Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.23.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2023
Revenues:  
Schedule of Recognized Revenue Associated With Contract Liabilities

For the three months ended September 30, 2023 and 2022, we recognized revenue associated with contract liabilities that were included in the contract liabilities balance at the beginning of the period as follows:

Schedule of Recognized Revenue Associated With Contract Liabilities 

    September 30,
2023		     September 30,
2022		  
             
Balance, beginning of period   $ 2,109,677     $ 1,976,612  
Recognized revenue associated with contract liabilities     (1,359,744 )     (1,314,807 )
Amounts collected or invoiced     1,117,262       1,017,085  
Balance, end of period   $ 1,867,195     $ 1,678,890  
Schedule of Allowance for Credit Loss Activity

The following table summarizes the activity related to the Company’s allowance for credit losses:

 

    September 30, 2023     December 31, 2022  
             
Balance, beginning of period   $ 102,515     $ 247,190  
Provision for credit losses     1,895       (144,675 )
Write-offs     (6,587 )     -  
Balance, end of period   $ 97,823     $ 102,515