General form of registration statement for all companies including face-amount certificate companies

Deferred Revenue

v3.5.0.2
Deferred Revenue
 12 Months Ended
Dec. 31, 2015
Deferred Revenue Disclosure [Abstract]  
Deferred Revenue

12. 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, 2015 and 2014 was $1,169,149 and $950,358, respectively.

 

Deferred revenue consists of the following:

 

    December 31,  
    2015     2014  
Nissan   $ 144,072     $ 681,758  
NYSERDA     90,021       279,477  
CEC     84,274       205,140  
NV Energy Commission     17,626       32,626  
PA Turnpike     64,747       —  
Green Commuter     500,000       —  
Other     132,563       36,331  
Total deferred revenue     1,033,303       1,235,332  
Deferred revenue, non-current portion     (109,180 )     (275,370 )
Current portion of deferred revenue   $ 924,123     $ 959,962  

 

It is anticipated that deferred revenue as of December 31, 2015 will be recognized over the next four years as follows:

 

For the Year Ending December 31,   Revenue  
2016   $ 924,123  
2017     60,190  
2018     35,398  
2019     13,592  
Total   $ 1,033,303