Annual report pursuant to Section 13 and 15(d)

Other Assets

v3.19.1
Other Assets
12 Months Ended
Dec. 31, 2018
Other Assets, Noncurrent Disclosure [Abstract]  
Other Non Current Assets [Text Block]
Note 10 – Other Assets
 
The Company’s other assets consists of the following:
 
   
December 31,
   
December 31,
 
   
2018
   
2017
 
Other   $ 9,192     $  
Private Corporation     250,000        
                 
Total   $ 259,192     $  
 
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. As part of this investment, the private corporation and the Company entered into a non-binding memorandum of understanding, with the goal of assisting in the Company’s development and supply of Vuzix display systems for the private corporation’s products. The Company expects to earn additional equity in the private corporation by being compensated for its work in kind and as a result could earn approximately a further 4% equity interest in this firm. 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, 2018.