Deferred Revenue

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Deferred Revenue

NOTE 10 – DEFERRED REVENUE

The Company has future performance obligations for separately priced extended warranties sold related to its Lamps for Life program and advances from customers. Activity during the nine months ended September 30, 2019 and 2018 was as follows:

	September 30, 2019			September 30, 2018
Balance, beginning of period	$	1,073,014		$	1,212,292
Additions		1,667,812			15,830,015
Amortization		(2,332,161	)		(11,129,344	)
Balance, ending of period		408,665			5,912,963
Deferred revenue – short-term		311,184			5,749,610
Deferred revenue – long-term	$	97,481		$	163,353

During September 2018, the Company entered an arrangement with a distributor which specifies shipment to an intermediate site before final delivery to the end user. The distributor prepaid the majority of the sales price and assumes the title to the products upon shipment to the intermediate site. The Company deferred both the revenue and related product costs until final delivery. Deferred revenue related to the arrangement was $4.6 million at September 30, 2018 and was released December 2018.