Quarterly report pursuant to Section 13 or 15(d)

Other Assets

v3.22.2
Other Assets
6 Months Ended
Jun. 30, 2022
Other Assets  
Other Assets

Note 7 - Other Assets

June 30,

December 31, 

    

2022

    

2021

Private Corporation Investments (at cost)

$

450,000

$

450,000

Software Development Costs

750,000

500,000

Additions

125,000

250,000

Less: Accumulated Amortization

(291,667)

(208,334)

Software Development Costs, Net

583,333

541,666

Unamortized Common Stock Expense included in Long-Term Prepaid Expenses

805,714

491,923

Total Other Assets

$

1,839,047

$

1,483,589

During 2020, the Company invested $500,000 in Android operating systems upgrades for its CPU platform used on its M400 and M4000 products. This upgrade was finished and placed into service in the beginning of the fourth quarter of 2020.  This capitalized asset is being amortized on a straight-line over its expected product life cycle of thirty-six (36) months, which began on October 1, 2020. In October 2021, the Company invested $250,000 and in the first quarter of 2022 the Company invested an additional $125,000 for further Android operating systems version upgrades to the CPU platform it uses on its M400 and M4000 products. This development work, which has not yet been completed, will ultimately be amortized once placed into service which is expected to occur by early 2023.