Note 4 – Revenue
The following table sets forth revenue by geographic
area:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| United States |
|
$ |
14,054,316 |
|
|
$ |
41,434 |
|
|
$ |
28,151,446 |
|
|
$ |
106,408 |
|
| Rest of World |
|
|
7,764,437 |
|
|
|
- |
|
|
|
19,256,109 |
|
|
|
- |
|
| Total |
|
$ |
21,818,753 |
|
|
$ |
41,434 |
|
|
$ |
47,407,555 |
|
|
$ |
106,408 |
|
| Percentage of revenue by area: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
|
64 |
% |
|
|
100 |
% |
|
|
59 |
% |
|
|
100 |
% |
| Rest of World |
|
|
36 |
% |
|
|
0 |
% |
|
|
41 |
% |
|
|
0 |
% |
Deferred Revenue
Changes in the Company’s deferred revenue
balance for the nine months ended September 30, 2020 were as follows:
| Balance as of December 31, 2019 |
|
$ |
1,323 |
|
| Revenue recognized that was included in deferred revenue balance at the beginning of the period |
|
|
(1,323 |
) |
| Increase due to prepayments from customers |
|
|
657,925 |
|
| Balance as of September 30, 2020 |
|
$ |
657,925 |
|
The Company expects to perform its performance
obligation and recognize the deferred revenue as revenue during the year ended December 31, 2020.
|