DEFERRED REVENUE (Details Narrative) - USD ($) |
1 Months Ended | 12 Months Ended | ||
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Dec. 15, 2015 |
Jun. 30, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
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Deferred Revenue Details Narrative | ||||
Common stock shares issued | 2,000,000 | |||
Reimbursement | $ 25,000 | |||
Remaining deferred revenue | $ 1,046,264 | $ 1,480,286 | ||
Net gain of sublicensing fees | $ 731,973 |
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- References No definition available.
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- References No definition available.
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- Definition Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue from multiple-deliverable arrangements that include licensing fees and services revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Services revenue may be derived by providing other, nonspecified, services during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Repayment received or receivable for expenses incurred on behalf of a client or customer, other than those reimbursements received by landlords from tenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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