Post-effective amendment to a registration statement that is not immediately effective upon filing

Unearned Revenue

v3.22.1
Unearned Revenue
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Unearned Revenue [Abstract]    
UNEARNED REVENUE
I. UNearned revenue:

 

Unearned revenue includes customer deposits and deferred revenue which represent prepayments from customers. At March 31, 2022 and December 31, 2021, the Company had unearned revenue totaling $1,786,381 and $721,608, respectively.

 

    March 31,     December 31,  
    2022     2021  
Balance at January 1,   $ 721,608     $ 564,227  
Revenue recognized     (12,259,583 )     (39,702,714 )
Amounts collected or invoiced     13,324,356       39,860,095  
Unearned Revenue   $ 1,786,381     $ 721,608  
K. UNearned revenue:

 

Unearned revenue includes customer deposits and deferred revenue which represent prepayments from customers. At December 31, 2021 and December 31, 2020, the Company had unearned revenue totaling $721,608 and $564,227, respectively.

 

    December 31,     December 31.  
    2021     2020  
Balance at January 1,   $ 564,227     $ 362,951  
Revenue recognized     (39,702,714 )     (37,752,173 )
Amounts collected or invoiced     39,860,095       37,953,449  
Balance at December 31,   $ 721,608     $ 564,227