Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Disclosures

v3.19.3
Balance Sheet Disclosures
3 Months Ended
Sep. 30, 2019
Balance Sheet Disclosures [Abstract]  
Balance Sheet Disclosures

Note 3 - Balance Sheet Disclosures

 

Prepaid expenses consist of the following:

 

    September 30,     June 30,  
    2019     2019  
Software and technology   $ 321,432     $ 237,930  
Professional services     428,348       169,804  
Insurance     68,241       159,940  
Deposit     51,925       10,000  
    $ 869,946     $ 577,674  

 

The Company deferred approximately $164,000 in professional services costs related to the contract with the State of Utah. These costs will be recognized at the same time as the related revenue is recognized, under the matching principle.

 

Accrued liabilities consist of the following:

 

    September 30,     June 30,  
    2019     2019  
Professional fees   $ 85,000     $ 49,205  
Sales taxes     41,104       36,358  
Compensation     298,585       354,724  
Leaf Data Systems contractors     19,557       19,557  
Other     49,272       40,706  
                 
    $ 493,518     $ 500,550  

 

The accrued compensation as of June 30, 2019, and September 30, 2019, includes approximately $215,000 of accrued bonus earned by the Company's Chief Executive Officer with respect to fiscal year 2019. The balance was paid in October, 2019.