Deferred Revenue

3 Months Ended

Mar. 31, 2013

8. Deferred Revenue

Deferred revenue consists of the following:


	March 31,	December 31,
	2013	2012

Product shipped, revenue deferred	$ 3,510,417	$ 3,206,641
Customer deposits	466,904	558,227
Deferred service and license fees	6,325,892	6,215,230
	10,303,213	9,980,098
Less: Long-term deferred revenue	(359,606)	(477,159)
Total current deferred revenue	$ 9,943,607	$ 9,502,939

- 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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