Duos Technologies Group, Inc. General form of registration statement for all companies including face-amount certificate companies

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

The following table reflects the reclassification adjustment effect for the year ended December 31, 2019:


	Before Reclassification			After Reclassification
	For the Year Ended			For the Year Ended
	December 31,			December 31,
	2019			2019
OPERATING EXPENSES:
Selling and marketing expenses	$	421,535	Sales and marketing	$	950,962
Salaries, wages and contract labor		5,570,140	Engineering		1,254,235
Research and development		431,425	Research and development		1,479,334
Professional fees		252,825	AI technologies		1,215,488
General and administrative expenses		2,212,035	Administration		3,987,941

Total Operating Expenses	$	8,887,960		$	8,887,960

For the Year Ended December 31, 2020


Segments	Rail		Commercial		Petrochemical			Government		Banking		IT Suppliers		Artificial Intelligence		Total
Primary Geographical Markets
North America	$	5,558,405	$	298,705	$	23,951		$	687,293	$	188,819	$	273,604	$	1,008,671	$	8,039,448

Major Goods and Service Lines
Turnkey Projects	$	4,131,155	$	59,616	$	33,363		$	599,481	$	132,515	$		$		$	4,956,130
Technical Support		1,427,250		239,089		(9,412	)		87,812		56,304						1,801,043
Data Center Auditing Services													266,449				266,449
Software License													7,155				7,155
Algorithms															1,008,671		1.008,671
	$	5,558,405	$	298,705	$	23,951		$	687,293	$	188,819	$	273,604	$	1,008,671	$	8,039,448

Timing of Revenue Recognition
Goods transferred over time	$	4,131,155	$	59,616	$	33,363		$	599,481	$	132,515	$	273,604	$	1,008,671	$	6,238,405
Services transferred over time		1,427,250		239,089		(9,412	)		87,812		56,304						1,801,043
	$	5,558,405	$	298,705	$	23,951		$	687,293	$	188,819	$	273,604	$	1,008,671	$	8,039,448

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