Annual report pursuant to Section 13 and 15(d)

Deferred Revenue

v3.3.0.814
Deferred Revenue
 12 Months Ended
Dec. 31, 2014
Deferred Revenue Disclosure [Abstract]  
Deferred Revenue

11. DEFERRED REVENUE

 

The Company is the recipient of various private and governmental grants, rebates and marketing incentives. Reimbursements of periodic expenses are recognized as income when the related expense is incurred. Private and government grants and rebates related to EV charging stations and their installation are deferred and amortized in a manner consistent with the recognition of the related depreciation expense of the related asset over their useful lives.

 

Grant, rebate and incentive revenue recognized during the years ended December 31, 2014 and 2013 was $950,358 and $90,796, respectively.

 

Deferred revenue consists of the following:

 

    December 31,  
    2014     2013  
             
Nissan   $ 681,758     $ 781,521  
NYSERDA     279,477       72,288  
CEC     205,140       -  
NV Energy Commission     32,626       -  
Other     36,331       36,677  
Total deferred revenue     1,235,332       890,486  
Deferred revenue, non-current portion     (275,370 )     (678,392 )
Current portion of deferred revenue   $ 959,962     $ 212,094  

 

It is anticipated that deferred revenue as of December 31, 2014 will be recognized over the next four years as follows:

 

For the Year Ending      
December 31,   Revenue  
       
2015   $ 959,962  
2016     197,285  
2017     49,814  
2018     28,271  
 Total   $ 1,235,332