Annual report pursuant to Section 13 and 15(d)

Software Development Costs, Net

v3.3.1.900
Software Development Costs, Net
12 Months Ended
Dec. 31, 2015
Research and Development [Abstract]  
Software Development Costs, Net
Note 5 — Software Development Costs, Net
 
 
 
December 31,
 
December 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
Software Development Costs
 
$
859,351
 
$
859,351
 
Less: Accumulated Amortization
 
 
(358,063)
 
 
(71,613)
 
 
 
 
 
 
 
 
 
Net
 
$
501,288
 
$
787,738
 
 
Total amortization expense for capitalized software development costs for the years ending December 31, 2015 was $286,450 and $71,613 for 2014. These costs are being amortized over 3 years and have been included in Cost of Sales – Products on the Consolidated Statement of Operations. The software was completed in September 2014. The estimated aggregate annual amortization expense for the year ending December 31, 2016 is approximately $286,000, and is approximately $215,000 in the year ending December 31, 2017.