Revenue

3 Months Ended

Mar. 31, 2020

Revenue [Abstract]

REVENUE

4. REVENUE

The following table is a summary of the Company's timing of revenue recognition for the three months ended March 31, 2020 and the period January 10, 2019 (Inception) to March 31, 2019:

(Amounts in US$'s)	March 31, 2020		January 10, 2019 (Inception) to March 31, 2019
Timing of revenue recognition:
Services and products transferred at a point in time	$	2,162,038	$	1,203
Services and products transferred over time		323,166		15,711
Total revenue	$	2,485,204	$	16,914

The Company disaggregates revenue by source and geographic destination to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Revenue by source consisted of the following for the three months ended March 31, 2020 and the period January 10, 2019 (Inception) to March 31, 2019:

(Amounts in US$'s)	For the Three Months Ended March 31, 2020		January 10, 2019 (Inception) to March 31, 2019
Revenue by products and services:
Products	$	1,874,350	$	1,203
Services		610,854		15,711
Total revenue	$	2,485,204	$	16,914

Revenue by geographic destination consisted of the following for the three months ended March 31, 2020 and the period January 10, 2019 (Inception) to March 31, 2019:

(Amounts in US$'s)	For the Three Months Ended March 31, 2020		January 10, 2019 (Inception) to March 31, 2019
Revenue by geography:
North America	$	2,189,676	$	16,914
International		295,528		—
Total revenue	$	2,485,204	$	16,914

Contract Balances

The Company records contract assets when it has a right to consideration and records accounts receivable when it has an unconditional right to consideration. Contract liabilities consist of cash payments received (or unconditional rights to receive cash) in advance of fulfilling performance obligations. As of March 31, 2020, the Company did not have a contract assets balance.

The following table is a summary of the Company's contract liabilities related to contracts with customers for the three months ended March 31, 2020.

(Amounts in US$'s)	Total
Balance at December 31, 2019	$	302,815
Increase		62,240
Balance at March 31, 2020	$	365,055

The increase in contract liabilities during the three months ended March 31, 2020 was primarily due to invoiced amounts that did not yet meet the revenue recognition criteria, partially offset by the revenue recognition criteria being met for previously deferred revenue. The amount of revenue recognized in the three months ended March 31, 2020 that was included in the prior period contract liability balance was $65,471. This revenue consisted of services provided to customers who had been invoiced prior to the current year.