Contract liabilities - customer advances and deferred revenues

12 Months Ended

Jun. 30, 2019

Customer Advances And Deferred Revenues Current [Abstract]

Contract liabilities - customer advances and deferred revenues

6. Contract liabilities - customer advances and deferred revenues

The Company receives deposits on the sale of kiosks to new or existing franchise owners. Contract liabilities – customer advances and deferred revenues reflects the amount of deposits paid to the Company. This liability is increased by new kiosk sales and decreased by the recognition of revenue for delivered kiosks and the termination or amendment of franchise agreements.

The balances of this liability are $23,805,074 and $37,221,943 as of June 30, 2019 and 2018, respectively.