Software Development Costs, Net
|12 Months Ended|
Dec. 31, 2018
|Research and Development [Abstract]|
|Software Development Costs, Net||
Note 7 — Software Development Costs, Net
Total amortization expense for capitalized software development costs for the years ended December 31, 2018, 2017 and 2016 was $100,000, $214,838 and $286,450, respectively. During the year ended December 31, 2018, new software development related costs totaling $87,500 were capitalized. The remaining costs of $200,000 are being amortized over two years and are included in Cost of Sales – Products in the Consolidated Statements of Operations. During the year ended December 31, 2018, a $196,223impairment charge was recorded related to previously capitalized costs related to application software being developed for our M300 Smart Glasses, which was not expected to achieve expected revenue projections and was discontinued in 2018.
The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef