Annual report pursuant to Section 13 and 15(d)

SOFTWARE DEVELOPMENT COSTS

v3.21.1
SOFTWARE DEVELOPMENT COSTS
12 Months Ended
Dec. 31, 2020
SOFTWARE DEVELOPMENT COSTS [Abstract]  
SOFTWARE DEVELOPMENT COSTS

NOTE 6 – SOFTWARE DEVELOPMENT COSTS


In 2018, the Company capitalized $60,000, relating to the development of new software products. These software products were developed by a third party and had passed the preliminary project stage prior to capitalization.


 

 

December 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Software development costs

 

$

60,000

 

 

$

60,000

 

Less: Accumulated amortization

 

 

(60,000

)

 

 

(40,000

)

 

 

$

—

 

 

$

20,000

 


Amortization of software development costs in 2020 and 2019 was $20,000 and $20,000, respectively.