Quarterly report pursuant to Section 13 or 15(d)

9. Deferred Revenue and Advances

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9. Deferred Revenue and Advances
6 Months Ended
Jun. 30, 2015
Deferred Revenue Disclosure [Abstract]  
Deferred Revenue and Advances

As of June 30, 2015 and December 31, 2014, the Company had deferred revenue and advances of $899,333 and $882,577, respectively, resulting from the collection of certain advances or minimum guarantees against future royalty payments or flat license fees from its customers. These amounts represent collections for which revenue recognition criteria have not been met.