Annual report pursuant to Section 13 and 15(d)

Deferred Revenue

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Deferred Revenue
 12 Months Ended
Dec. 31, 2017
Deferred Revenue Disclosure [Abstract]  
Deferred Revenue

9. 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, 2017 and 2016 was $120,905 and $332,672, respectively.

 

Deferred revenue consists of the following:

 

    December 31,  
    2017     2016  
             
Nissan   $ 46,212     $ 78,832  
NYSERDA     -       2,690  
CEC     -       16,588  
NV Energy Commission     -       2,626  
PA Turnpike     34,185       47,135  
AFIG-PAT     86,112       119,453  
Prepaid Network and Maintenance Fees     155,810       176,745  
Green Commuter     -       128,000  
Other     111,735       128,126  
Total deferred revenue     434,054       700,195  
Deferred revenue, non-current portion     (50,283 )     (99,495 )
Current portion of deferred revenue   $ 383,771     $ 600,700  

 

It is anticipated that deferred revenue as of December 31, 2017 will be recognized over the next three years as follows:

 

For the Year Ending      
December 31,   Revenue  
       
2018   $ 383,771  
2019     36,259  
2020     14,024  
Total   $ 434,054