Taronis Technologies Inc (TRNX)

[RLBLB]

Contract Balances
 
The timing of revenue recognition may differ from the timing of payment by customers. The Company records a receivable when revenue is recognized prior to payment and there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. The Company had deferred revenue of approximately $0 and $0 as of March 31, 2019 and 2018. The Company expects to satisfy its remaining performance obligations for these services and recognize the deferred revenue and related contract costs over the next twelve months.
 
The following table represents external net sales disaggregated by product category for the quarter ended March 31,
 
  2019  2018 Gas sold $2,912,877  $869,829 Equipment rentals  869,574   190,309 Equipment sales  1,053,122   111,616 Other  77,758   - Total Revenues from Customers  4,913,332   1,171,753