Prepaid Expenses And Other Current Assets

3 Months Ended

Mar. 31, 2018

Prepaid Expenses And Other Current Assets [Abstract]

Prepaid Expenses And Other Current Assets

4. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	March 31, 2018	December 31, 2017
Prepaid expenses	$        458,547	$       575,501
Prepaid commissions	384,879	-
Deferred financing costs	-	24,658
Deposits	180,848	194,358
Total prepaid expenses and other assets	1,024,274	794,517
Less: Noncurrent prepaid expenses and other assets	(282,199)	(44,432)
Total current prepaid expenses and other assets	$        742,075	$       750,085

Effective with the January 1, 2018 adoption of ASC 606, the Company determined that sales commissions paid in connection with multi-year service contracts met the requirements to be capitalized as the Company expects to generate future economic benefits from the related revenue generating contracts. Previously, sales commissions on multi-year service contracts were expensed as incurred. The Company is amortizing this asset over the economic life of the related contracts.