SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Contract assets and liabilities

The table below shows movements in contract assets:

	Contract assets
Balance – December 31, 2019	$	4,350,522
Revenue recognized during the period but not billed		220,589
Amounts reclassified to accounts receivable		(1,258,658	)
Other		215,179
Balance – March 31, 2020	$	3,527,632	(1)

(1) Contract asset balances for March 31, 2020 include a current and a long-term contract asset, $2,408,448, and $1,119,184, respectively.

The table below shows movements in the deferred revenue balances (current and noncurrent) for the period:

	Contract liability
Balance – December 31, 2019	$	2,461,924
Amounts billed but not recognized as revenue		(1,175,117	)
Revenue recognized related to the opening balance of deferred revenue		417,579
Other		-
Balance – March 31, 2020	$	1,704,386

Disaggregation of revenues

	For the Nine Months Ended March 31, 2020
Geography	Subscription & support		Professional services		Transaction based		Total
North America	$	12,086,983	$	408,841	$	1,740,276		14,236,100
International		34,560		-		-		34,560
Total	$	12,121,543	$	408,841	$	1,740,276	$	14,270,660

Earnings per share

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2020		2019		2020		2019
Numerator
Net income applicable to common shareholders	$	125,376	$	921,476	$	673,608	$	3,280,271
Denominator
Weighted average common shares outstanding, basic		19,458,000		19,861,000		19,714,000		19,823,000
Warrants to purchase common stock		187,000		529,000		228,000		546,000
Weighted average common shares outstanding, diluted		19,645,000		20,390,000		19,942,000		20,369,000
Net income per share
Basic	$	0.01	$	0.05	$	0.03	$	0.17
Diluted	$	0.01	$	0.05	$	0.03	$	0.16