Note 8 - Deferred Revenue

9 Months Ended

Sep. 30, 2013

Notes

Note 8 - Deferred Revenue

NOTE 8 DEFERRED REVENUE

Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services or when assets received in such exchange are readily convertible to cash or claim to cash or when such goods/services are transferred. When such income item is earned, the related revenue item is recognized, and the deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when services are completed and billed. The Company has received deposits from its various clients that have been recorded as deferred revenue in the amount of $100,000 and $113,750 as of the periods ended September 30, 2013 and December 31, 2012, respectively.