Prepaid Expenses and Other Assets

9 Months Ended

Sep. 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:

	September 30,  2018			December 31,  2017
Prepaid expenses	$	311,021		$	575,501
Prepaid commissions		333,940			-
Deferred financing costs		-			24,658
Deposits		552,375			194,358
Total prepaid expenses and other assets		1,197,336			794,517
Less: Noncurrent prepaid expenses and other assets		(226,939	)		(44,432	)
Total current prepaid expenses and other assets	$	970,397		$	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.