Quarterly report pursuant to Section 13 or 15(d)

Accounting Policies (Tables)

v3.8.0.1
Accounting Policies (Tables)
6 Months Ended
Dec. 31, 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 December 31, 2017, are as follows:

 

    Level 1     Level 2     Level 3     Total Assets  
Revenue in excess of billing - long term   $ -     $ -     $ 6,668,854     $ 6,668,854  
Total   $ -     $ -     $ 6,668,854     $ 6,668,854  

 

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 December 31, 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  
Additions     1,469,379     $ (85,057 )     1,384,322  
Amortization during the period     -       110,994       110,994  
Balance at December 31, 2017   $ 6,953,248     $ (284,394 )   $ 6,668,854