Annual report pursuant to Section 13 and 15(d)

Deferred Revenue

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Deferred Revenue
 12 Months Ended
Dec. 31, 2016
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, 2016 and 2015 was $332,672 and $1,169,149, respectively.

 

Deferred revenue consists of the following:

 

     December 31,  
     2016     2015  
             
Nissan     78,832     $ 144,072  
NYSERDA     2,690       90,021  
CEC     16,588       84,274  
NV Energy Commission     2,626       17,626  
PA Turnpike     47,135       64,747  
AFIG-PAT     119,453       -  
Prepaid Network and Maintenance Fees     176,745       130,083  
Green Commuter     128,000       500,000  
Other     128,126       2,480  
Total deferred revenue     700,195       1,033,303  
Deferred revenue, non-current portion     (99,495 )     (109,180 )
Current portion of deferred revenue   $ 600,700     $ 924,123  

 

It is anticipated that deferred revenue as of December 31, 2016 will be recognized over the next three years as follows:

 

For the Year Ending        
December 31,     Revenue  
         
2017     $ 600,700  
2018       72,954  
2019       26,541  
Total     $ 700,195