Note 5 - Contract Assets and Contract Liabilities

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

5. Contract Assets and Contract Liabilities

Contract assets represent contract billings for sales per contracts with customers and are classified as current. Our contract assets include our accounts receivables. At

September 30, 2019,

the Company had contract assets balance of

$2,704,000.

At

September 30, 2018,

the Company had contract assets balance of

$1,117,000.

Contract liabilities consist of cash payments in advance of the Company satisfying performance obligations and recognizing revenue. The Company currently classifies deferred revenue as a contract liability. At

September 30, 2019,

the Company had contract liabilities balance of

$643,000.

At

September 30, 2018,

the Company had contract liabilities balance of

$619,000.