Duos Technologies Group, Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2019

The following table reflects the reclassification adjustment effect in the three and six months ended June 30, 2019:


	Before Reclassification			After Reclassification
	For the Three Months Ended			For the Three Months Ended
	June 30,			June 30,
	2019			2019
OPERATING EXPENSES:
Selling and marketing expenses	$	128,506	Sales and marketing	$	270,196
Salaries, wages and contract labor		1,338,302	Engineering		289,986
Research and development		118,435	Research and development		487,738
Professional fees		17,054	AI technologies		202,673
General and administrative expenses		521,268	Administration		872,972

Total Operating Expenses	$	2,123,565		$	2,123,565


	Before Reclassification			After Reclassification
	For the Six Months Ended			For the Six Months Ended
	June 30,			June 30,
	2019			2019
OPERATING EXPENSES:
Selling and marketing expenses	$	238,122	Sales and marketing	$	520,620
Salaries, wages and contract labor		2,607,081	Engineering		624,549
Research and development		231,129	Research and development		871,160
Professional fees		144,973	AI technologies		383,986
General and administrative expenses		986,655	Administration		1,807,645

Total Operating Expenses	$	4,207,960		$	4,207,960

For the Three Months Ended June 30, 2020


Segments	Rail		Commercial		Petrochemical	Government		Banking		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	1,631,891	$	52,552	$	$	20,221	$	96,869	$	2,385	$	178,224	$	1,982,142

Major Goods and Service Lines

Turnkey Projects	$	1,332.577	$	(2,421)	$	$		$	89,253	$		$	178,224	$	1,597,633
Maintenance & Support		299,314		54,973			20,221		7,616						382,124
Data Center Auditing Services
Software License											2,385				2,385
	$	1,631,891	$	52,552	$	$	20,221	$	96,869	$	2,385	$	178,224	$	1,982,142

Timing of Revenue Recognition

Goods transferred over time	$	1,332,577	$	(2,421)	$	$		$	89,253	$	2,385	$	178,224	$	1,600,018
Services transferred over time		299,314		54,973			20,221		7,616						382,124
	$	1,631,891	$	52,552	$	$	20,221	$	96,869	$	2,385	$	178,224	$	1,982,142

For the Three Months Ended June 30, 2019


Segments	Rail		Commercial		Petrochemical		Government		Banking		IT Suppliers		Total
Primary Geographical Markets

North America	$	805,135	$	169,010	$	20,621	$	53,575	$	217,251	$	80,213	$	1,345,805

Major Goods and Service Lines

Turnkey Projects	$	552,561	$	169,010	$	12,815	$	33,354	$	217,251	$		$	984,991
Maintenance & Support		252,574				7,806		20,221						280,601
Data Center Auditing Services												80,213		80,213
Software License
	$	805,135	$	169,010	$	20,621	$	53,575	$	217,251	$	80,213	$	1,345,805

Timing of Revenue Recognition

Goods transferred over time	$	552,561	$	169,010	$	12,815	$	33,354	$	217,251	$	80,213	$	1,065,204
Services transferred over time		252,574				7,806		20,221						280,601
	$	805,135	$	169,010	$	20,621	$	53,575	$	217,251	$	80,213	$	1,345,805

For the Six Months Ended June 30, 2020


Segments	Rail		Commercial		Petrochemical	Government		Banking		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets

North America	$	2,345,149	$	126,887	$	$	47,370	$	140,988	$	134,469	$	178,224	$	2,973,087

Major Goods and Service Lines

Turnkey Projects	$	1,813,687	$	6,202	$	$		$	113,194	$		$	178,224	$	2,111,307
Maintenance & Support		531,462		120,685			47,370		27,794						727,311
Data Center Auditing Services											129,699				129,699
Software License											4,770				4,770
	$	2,345,149	$	126,887	$	$	47,370	$	140,988	$	134,469	$	178,224	$	2,973,087

Timing of Revenue Recognition

Goods transferred over time	$	1,813,687	$	6,202	$	$		$	113,194	$	134,469	$	178,224	$	2,245,776
Services transferred over time		531,462		120,685			47,370		27,794						727,311
	$	2,345,149	$	126,887	$	$	47,370	$	140,988	$	134,469	$	178,224	$	2,973,087

For the Six Months Ended June 30, 2019


Segments	Rail		Commercial		Petrochemical		Government		Banking		IT Suppliers		Total
Primary Geographical Markets

North America	$	4,476,933	$	188,931	$	54,973	$	97,068	$	687,599	$	192,382	$	5,697,886

Major Goods and Service Lines

Turnkey Projects	$	3,942,219	$	186,734	$	39,361	$	56,626	$	678,489	$		$	4,903,429
Maintenance & Support		534,714		2,197		15,612		40,442		9,110				602,075
Data Center Auditing Services												144,982		144,982
Software License												47,400		47,400
	$	4,476,933	$	188,931	$	54,973	$	97,068	$	687,599	$	192,382	$	5,697,886

Timing of Revenue Recognition

Goods transferred over time	$	3,942,219	$	186,734	$	39,361	$	56,626	$	678,489	$	192,382	$	5,095,811
Services transferred over time		534,714		2,197		15,612		40,442		9,110				602,075
	$	4,476,933	$	188,931	$	54,973	$	97,068	$	687,599	$	192,382	$	5,697,886

For the Year Ended December 31, 2019


Segments	Rail		Commercial			Petrochemical			Government			Banking			IT Suppliers			Total
Primary Geographical Markets
North America	$	11,201,794		$	465,782		$	99,841		$	201,659		$	1,371,821		$	300,418		$	13,641,315

Major Goods and Service Lines
Turnkey Projects	$	10,020,318		$	422,230		$	70,545		$	88,723		$	1,361,622		$			$	11,963,438
Maintenance & Support		1,181,476			43,552			29,296			112,936			10,199						1,377,459
Data Center Auditing Services																	246,658			246,658
Software License																	53,760			53,760
	$	11,201,794		$	465,782		$	99,841		$	201,659		$	1,371,821		$	300,418		$	13,641,315

Timing of Revenue Recognition
Goods transferred over time	$	10,020,318		$	422,230		$	70,545		$	88,723		$	1,361,622		$	300,418		$	12,263,856
Services transferred over time		1,181,476			43,552			29,296			112,936			10,199						1,377,459
	$	11,201,794		$	465,782		$	99,841		$	201,659		$	1,371,821		$	300,418		$	13,641,315

For the Year Ended December 31, 2018


Segments	Rail		Commercial			Petrochemical			Government			Banking			IT Suppliers			Total
Primary Geographical Markets
North America	$	7,426,613		$	3,523,964		$	61,626		$	515,465		$	396,473		$	124,478		$	12,048,619

Major Goods and Service Lines
Turnkey Projects	$	6,378,927		$	3,520,919		$	20,022		$	437,585		$	396,473		$			$	10,753,926
Maintenance & Support		1,047,686			3,045			41,604			77,880									1,170,215
Data Center Auditing Services																	124,478			124,478
	$	7,426,613		$	3,523,964		$	61,626		$	515,465		$	396,473		$	124,478		$	12,048,619

Timing of Revenue Recognition
Goods transferred over time	$	6,378,927		$	3,520,919		$	20,022		$	437,585		$	396,473		$			$	10,753,926
Services transferred over time		1,047,686			3,045			41,604			77,880						124,478			1,294,693
	$	7,426,613		$	3,523,964		$	61,626		$	515,465		$	396,473		$	124,478		$	12,048,619