I assumed that when Reliq bundled a hardware sale with a SAAS service that the co. reported the entire value of the hardware sale immediately but monthly SAAS payments were recorded as received. But total reported revenue for the last 3 qtrs is almost the entire change in long term receivables. This suggests that Reliq has reported the entire monthly SAAS revenues bundled in a 12 or 24 month contract immediately along with the hardware sale. If so, SAAS revenue as reported is an exaggeration.
| Qtr ending | Long Term Receivables | Chg | Total revenue |
| Mar 23 | 18,290,711 | 3,946,831 | 4,741,037 |
| Dec 22 | 14,343,880 | 4,162,258 | 4,118,524 |
| Sep 22 | 10,181,622 | 2,964,023 | 3,472,237 |
| Jun 22 | 7,217,599 | | |
IFRS 15 revenue from contracts with customers
The Company uses judgment to assess whether multiple products and services sold in a contract are considered distinct and should be accounted as separate performance obligations or together. Judgments are required to determine the stand-alone selling price for each distinct performance obligation in order to allocate revenue where multiple performance obligations exist in a contract. Management exercises judgement in determining whether a contract's outcome can be estimated reliably. Management continually and routinely reviews changes in the facts and macro environment to assess credit risks on trade receivables and other receivables. Judgement is also needed in assessing the ability to collect trade receivables, separate from credit risks.