Annual report pursuant to Section 13 and 15(d)

Software Development Costs, Net

v3.6.0.2
Software Development Costs, Net
12 Months Ended
Dec. 31, 2016
Research and Development [Abstract]  
Software Development Costs, Net
Note 6 — Software Development Costs, Net
 
 
 
December 31,
 
December 31,
 
 
 
2016
 
2015
 
 
 
 
 
 
 
Software Development Costs
 
$
859,351
 
$
859,351
 
Less: Accumulated Amortization
 
 
(644,513)
 
 
(358,063)
 
 
 
 
 
 
 
 
 
Software Development Costs, Net
 
$
214,838
 
$
501,288
 
 
Total amortization expense for capitalized software development costs for the years ended December 31, 2016 and 2015 was $286,450 and $286,450, respectively. These costs are being amortized over 3 years and have been included in Cost of Sales – Products in the Consolidated Statement of Operations. The software was completed in September 2014. The estimated aggregate annual amortization expense will be approximately $215,000 for the year ended December 31, 2017.