Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of Estimated Useful Life of Property and Equipment

Property and equipment is stated at cost, net of accumulated depreciation and amortization which is recorded commencing at the in-service date using the straight-line method over the estimated useful lives of the assets.

 

    Useful Lives
Asset   (In Years)
     
Computer software and office and computer equipment   3 - 5
Machinery and equipment, automobiles, furniture and fixtures   3 - 10
Installed Level 2 electric vehicle charging stations   3 - 7
Installed Level 3 (DC Fast Chargers (“DCFC”)) electric vehicle charging stations   5

Schedule of Revenue Recognition by Contract

The following table summarizes our revenue recognized under ASC 606 in our consolidated statements of operations:

 

    For The Years Ended  
    December 31,  
    2018     2017  
             
Revenues - Recognized at a Point in Time                
Charging service revenue - company-owned charging stations   $ 1,264,719     $ 1,186,710  
Product sales     476,930       495,086  
Other     187,252       338,440  
Total Revenues - Recognized at a Point in Time     1,928,901       2,020,236  
                 
Revenues - Recognized Over a Period of Time:                
Network fees and other     351,440       359,216  
Total Revenues - Recognized Over a Period of Time     351,440       359,216  
                 
Total Revenue Under ASC 606   $ 2,280,341     $ 2,379,452  

Schedule of Outstanding Diluted Shares Excluded from Diluted Loss Per Share Computation

The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:

 

    For the Years Ended  
    December 31,  
    2018     2017  
Convertible preferred stock     1,647,756       2,998,355  
Warrants     6,837,061       275,332  
Options     109,546       107,901  
Convertible notes     -       20,555  
Total potentially dilutive shares     8,594,363       3,402,143