Quarterly report pursuant to Section 13 or 15(d)

Accounting Policies (Tables)

v3.8.0.1
Accounting Policies (Tables)
3 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
Schedule of Fair Value of Financial Assets Measured On Recurring Basis

The Company’s financial assets that are measured at fair value on a recurring basis as of September 30, 2017, are as follows:

 

    Level 1     Level 2     Level 3     Total Assets  
Revenue in excess of billing - long term   $ -     $ -     $ 5,225,260     $ 5,225,260  
Total   $ -     $ -     $ 5,225,260     $ 5,225,260  

 

The Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2017, were as follows:

 

    Level 1     Level 2     Level 3     Total Assets  
Revenue in excess of billing - long term   $ -     $ -     $ 5,173,538     $ 5,173,538  
Total   $ -     $ -     $ 5,173,538     $ 5,173,538  

Schedule of Fair Value of Financial Instruments Reconciliation

The reconciliation from June 30, 2017 to September 30, 2017 is as follows:

 

    Revenue in excess
of billing - long term
    Fair value
discount
    Total  
Balance at June 30, 2017   $ 5,483,869     $ (310,331 )   $ 5,173,538  
Amortization during the period           51,722       51,722  
Balance at September 30, 2017   $ 5,483,869     $ (258,609 )   $ 5,225,260