|12 Months Ended|
Dec. 31, 2020
Note 8 – Other Assets
The Company’s other assets consists of the following:
In the second quarter of 2018, the Company acquired, for a purchase price of $250,000, approximately a 1% ownership interest, in the form of preferred stock, in a private corporation in the low vision near eye display market, which the Company has valued at cost. This investment was recorded at cost as its fair value is not readily determinable. The Company has reviewed this investment and concluded that there were no indicators of impairment present as of December 31, 2020.
During 2020, the Company invested $500,000 in Android operating systems upgrades to its platform used on its M400 and M4000 products. This upgrade was finished and placed into service in the beginning of the fourth quarter. This capitalized asset will be amortized on a straight-line over its expected product life cycle of 36 months, which began on October 1, 2020.
Total amortization expense for capitalized software development costs for the years ended December 31, 2020, 2019 and 2018 was $183,328, $100,000 and $100,000, respectively. The remaining costs of $458,333 are being amortized over a three year period and are included in Cost of Sales – Products in the Consolidated Statements of Operations.