Annual report pursuant to Section 13 and 15(d)

C. REVENUE (Tables)

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C. REVENUE (Tables)
12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenues

The following table presents the Company’s product and recurring revenues disaggregated by industry for the year ended December 31, 2020.

 

    Hospitality     Education     Multiple
Dwelling Units
    Government     Total  
Product   $ 4,940,887     $ 443,001     $ 143,887     $ 214,477     $ 5,742,251  
Recurring     597,490       129,541       24,587             751,619  
    $ 5,538,377     $ 572,542     $ 168,474     $ 214,477     $ 6,493,870  

 

The following table presents the Company’s product and recurring revenues disaggregated by industry for the year ended December 31, 2019.

 

    Hospitality     Education     Multiple
Dwelling Units
    Government     Total  
Product   $ 8,570,225     $ 1,038,660     $ 564,811     $ 1,039,158     $ 11,212,854  
Recurring     604,624       140,817       23,901             769,342  
    $ 9,174,849     $ 1,179,477     $ 588,712     $ 1,039,158     $ 11,982,196  
Contract Assets and Liabilities
    2020     2019     Variance  
Contract assets   $ 104,989     $ 188,120     $ (83,131 )
Contract liabilities     1,052,367       764,184       288,183  
Net contract liabilities   $ 947,378     $ 576,064     $ 371,314