Quarterly report pursuant to Section 13 or 15(d)

SOFTWARE DEVELOPMENT COSTS

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SOFTWARE DEVELOPMENT COSTS
 6 Months Ended
Jun. 30, 2015
Research and Development [Abstract]  
SOFTWARE DEVELOPMENT COSTS

5.  Software Development Costs

 

The Company has capitalized certain costs for software developed or obtained for internal use during the application development stage as it relates to specific contracts. The amounts capitalized include external direct costs of services used in developing internal-use software and for payroll and payroll-related costs of employees directly associated with the development activities.

 

The following table presents details of our software development costs as of June 30, 2015 and December 31, 2014:

 

   

Balance at

December 31, 2014

     Additions     Amortization    

Balance at

June 30, 2015

  
Software development costs     -       402,106       (26,793 )     375,313  
 Total   $ -     $ 402,106     $ (26,793 )   $ 375,313  

 

Software development costs are being amortized on a straight line basis over their estimated useful life of two years.

 

Amortization expense for software development costs was $26,793 and $0 for both the three and six months ended June 30, 2015 and 2014, respectively.

 

The estimated future amortization expense of software development costs as of June 30, 2015 is as follows:

 

Year ending December 31,   Amount  
2015   $ 100,526  
2016     201,053  
2017     73,734  
2018     -  
2019     -  
Thereafter     -  
Total   $ 375,313