Deferred Revenue

3 Months Ended

Mar. 31, 2012

Deferred revenue consists of the following:

	March 31,	December 31,
	2012	2011

Product shipped, revenue deferred	$2,241,141	$2,001,160
Customer deposits	532,700	1,156,900
Deferred service and license fees	6,106,496	5,696,959
	8,880,337	8,855,019
Less: Long-term deferred revenue	(602,520)	(634,713)
Total current deferred revenue	$8,277,817	$8,220,306

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

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