Deferred Revenue

9 Months Ended

Sep. 30, 2012

8. Deferred Revenue

Deferred revenue consists of the following:


	September 30,	December 31,
	2012	2011

Product shipped, revenue deferred	$ 1,872,655	$ 2,001,160
Customer deposits	447,700	1,156,900
Deferred service and license fees	5,874,468	5,696,959
	8,194,823	8,855,019
Less: Long-term deferred revenue	(742,805)	(634,713)
Total current deferred revenue	$ 7,452,018	$ 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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