2.	New Accounting Standards –

Accounting Pronouncements Adopted:

May 2014,

the Financial Accounting Standards Board ("FASB") issued ASU

2014

09,

Revenue from Contracts with Customers (Topic

606

) which amended the existing accounting standards for revenue recognition. ASU

2014

establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. The Company adopted ASU

2014

in the

first

quarter of

2018

using the full retrospective approach. Because the Company's primary source of revenues is from monthly transaction processing services and software maintenance and support services which are recognized monthly as incurred, as well as professional services which are performance obligation based, the impact on its consolidated financial statements is

not

material. For the

three

and

nine

months ended

September 30, 2017,

the company restated approximately

$17,000

and

$123,000,

respectively, in revenue and

$4,000

and

$24,000,

respectively, in cost of revenue for a net

$13,000

and

$99,000,

respectively, restatement to retained earnings.

Recent Accounting Pronouncements

Not

Yet Adopted:

February 2016,

the FASB issued ASU

2016

02,

Leases (Topic

842

) related to the accounting for leases. This pronouncement requires lessees to record most leases on their balance sheet, while expense recognition on the income statement remains similar to current lease accounting guidance. The guidance also eliminates real estate-specific provisions and modifies certain aspects of lessor accounting. Under the new guidance, lease classification as either a finance lease or an operating lease will determine how lease-related revenue and expense are recognized. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after

December 15, 2018.

As of

September 30, 2018,

the Company’s total lease commitments are approximately

$1,346,000.

The adoption of this standard is

not

expected to have a material effect on the Company’s operating results or financial condition.

We have considered all other recently issued accounting pronouncements and do

not

believe the adoption of such pronouncements will have a material impact on our Consolidated Financial Statements.