Note 8. Deferred Revenues

The deferred revenue balance of $115,170 consists substantially of amounts received from third party vendors in advance of the Company's product completion for payment of fees and expenses related to the product. Deferred revenue will be recognized as Other Income on a systematic basis that is proportionate to completion of the final product. For the period ended September 30, 2016 and December 31, 2015, deferred revenue was $115,170 and $0, respectively.