Quarterly report pursuant to Section 13 or 15(d)

Software Development Costs

v3.7.0.1
Software Development Costs
3 Months Ended
Mar. 31, 2017
Software Development Costs [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 March 31, 2017 and December 31, 2016:







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Balance at
December 31,
2016

 

Additions

 

Amortization

 

Balance at
March 31,
2017

Software Development Costs

 

$

288,923 

 

$

246,177 

 

$

(51,048)

 

$

484,052 



 

$

288,923 

 

$

246,177 

 

$

(51,048)

 

$

484,052 



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 $51,048 and $89,463 for the three months ended March 31, 2017 and 2016, respectively.



The estimated future amortization expense of software development costs as of March 31, 2017 is as follows:







 

 

 



 

 

 

Year ending December 31,

 

Amount

2017

 

$

241,630 

2018

 

 

211,658 

2019

 

 

30,764 

2020

 

 

 -

2021

 

 

 -

Thereafter

 

 

 -

Total

 

$

484,052