4. Contract Liabilities:

The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees. The table below presents the activity of the current and noncurrent deferred franchise revenue during the second six months of 2019 and 2018, respectively:


	June 29, 2019		June 30, 2018
Balance at beginning of period	$	10,177,300	$	10,310,200
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		598,400		964,700
Fees earned that were included in the balance at the beginning of the period		(956,300)		(933,200)
Balance at end of period	$	9,819,400	$	10,341,700

The following table illustrates future estimated revenue to be recognized for the remainder of 2019 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 29, 2019.


Contract Liabilities expected to be recognized in	Amount
2019	$	849,700
2020		1,657,800
2021		1,519,000
2022		1,374,100
2023		1,202,800
Thereafter		3,216,000
	$	9,819,400