|12 Months Ended|
Dec. 31, 2019
Note 9 – 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, 2019.
Total amortization expense for capitalized software development costs for the years ended December 31, 2019, 2018 and 2017 was $100,000, $100,000 and $214,838, respectively. The remaining costs of $100,000 are being amortized over one year and are included in Cost of Sales – Products in the Consolidated Statements of Operations. During the year ended December 31, 2018, a $196,223 impairment 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.