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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
 6 Months Ended
Jun. 30, 2025
Payables and Accruals [Abstract]  
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 4 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 

Accrued expenses and other current liabilities consisted of the following:

 

   June 30,   December 31, 
   2025   2024 
Accrued royalties  $252,647   $148,006 
Accrued professional and consulting fees   97,191    68,517 
Accrued development costs   59,436    26,925 
Accrued taxes   216,008    55,131 
Accrued payroll   125,895    191,736 
Deferred revenue   507,137    390,463 
Loss contingency reserves (see Note 9)   -    41,764 
Accrued other   89,387    147,521 
Total  $1,347,701   $1,070,063 

 

Deferred Revenue

 

The Company’s deferred revenue, or contract liability, is classified as current and is included within accrued expenses and other current liabilities on the unaudited condensed consolidated balance sheets. Revenue collected in advance of the event is recorded as deferred revenue until the event occurs. Development, coding and subscription revenues are also recorded as deferred revenue until the Company’s performance obligation is performed. Furthermore, deferred revenue includes payment advances from the Company’s channel partners and sales transactions including future update rights and online hosting performance obligations, which are subject to deferral and recognized over the Estimated Offering Period.

 

Revenue recognized in the period from amounts included in contract liability at the beginning of the period was approximately $0.1 million and $0 for each of the three months ended June 30, 2025 and 2024, respectively, and approximately $0.4 million and $0.3 million for each of the six-month periods ended June 30, 2025 and 2024, respectively.