Deferred Revenue and Income

3 Months Ended

Mar. 31, 2016

Deferred Revenue Disclosure [Abstract]

NOTE 8. DEFERRED REVENUE AND INCOME

Deferred revenue consists of amounts received for products or services not yet delivered or earned. Deferred income consists of amounts received for commitments not yet fulfilled. If we anticipate that the revenue or income will not be earned within the following twelve months, the amount is reported as long-term deferred income. A summary of the balances as of March 31, 2016 and December 31, 2015 follows (in thousands):



Deferred Revenue and Income
(in thousands)
	March 31,		December 31,
	2016		2015
Fisher agreement	$	13	$	13
Products not yet delivered	45		114
Total current deferred revenue and income	$	58	$	127

Arizona Commerce Authority grant	$	1,000	$	1,000
Total long-term deferred income	$	1,000	$	1,000

We have received $1.0 million in milestone payments from the Arizona Commerce Authority under the Grant Agreement described in Note 7, License Agreements and Grants. As of March 31, 2016, no such payments have been recognized in income, and we do not anticipate recognizing such payments as income until the “claw-back” provisions under the Grant Agreement expire in January 2018.