Prepaid Expenses and Other Assets

6 Months Ended

Jun. 30, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Assets

4. Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following:

	June 30, 2018			December 31, 2017
Prepaid expenses	$	337,491		$	575,501
Prepaid commissions		371,046			-
Deferred financing costs		-			24,658
Deposits		437,256			194,358
Total prepaid expenses and other assets		1,145,793			794,517
Less: Noncurrent prepaid expenses and other assets		(262,037	)		(44,432	)
Total current prepaid expenses and other assets	$	883,756		$	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.