v3.26.1
CONTRACT LIABILITIES
 6 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
CONTRACT LIABILITIES

NOTE 3 — CONTRACT LIABILITIES

 

Contract liabilities consist of the unearned portion of customer billings, which is recognized as revenue in accordance with our revenue recognition policy. The Company classifies contract liabilities as a current liability on the consolidated balance sheets because the longest subscription plan is for twelve months. The movement of contract liabilities for the three and six months ended March 31, 2026 and March 31, 2025 are as follows:

 

 SCHEDULE OF CONTRACT LIABILITIES

   2026   2025   2026   2025 
   Three months ended March 31,   Six months ended March 31, 
   2026   2025   2026   2025 
Opening balance  $360,292   $368,058   $358,628   $380,077 
Additional contract liabilities accrual   360,685    368,925    701,153    711,549 
Revenue recognized from opening contract liabilities   (104,713)   (111,772)   (288,762)   (380,845)
Revenue recognized from current year billings   (231,328)   (230,134)   (386,083)   (315,704)
Ending balance  $384,936   $395,077   $384,936   $395,077 

 

Remaining Performance Obligations

 

The Company applies the practical expedient in ASC 606-10-50-14, which allows an entity not to disclose the value of remaining performance obligations for contracts with an original expected term of one year or less. Because all of the Company’s customer contracts have original expected durations of one year or less, the Company has elected this practical expedient and, accordingly, does not disclose information about remaining performance obligations.