Annual report pursuant to Section 13 and 15(d)

Deferred Revenue

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Deferred Revenue
 12 Months Ended
Dec. 31, 2018
Deferred Revenue Disclosure [Abstract]  
Deferred Revenue

10. 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, 2018 and 2017 was $74,776 and $120,905, respectively. During the year ended December 31, 2018, the Company recognized $351,440 of revenue related to warranty and network fees, of which, $155,810 was included within deferred revenue as of December 31, 2017.

 

Deferred revenue consists of the following:

 

    December 31,  
    2018     2017  
             
Nissan   $ -     $ 46,212  
PA Turnpike     21,236       34,185  
AFIG-PAT     80,748       86,112  
Prepaid Network and Maintenance Fees     190,860       155,810  
Other     78,082       111,735  
Total deferred revenue     370,926       434,054  
Deferred revenue, non-current portion     (13,878 )     (50,283 )
Current portion of deferred revenue   $ 357,048     $ 383,771  

 

It is anticipated that deferred revenue as of December 31, 2018 will be recognized as follows:

 

For the Year Ending      
December 31,   Revenue  
       
2019    $ 357,048  
2020     13,651  
2021     227  
Total   $ 370,926