Quarterly report pursuant to Section 13 or 15(d)

SOFTWARE DEVELOPMENT COSTS

v3.20.1
SOFTWARE DEVELOPMENT COSTS
3 Months Ended
Mar. 31, 2020
SOFTWARE DEVELOPMENT COSTS [Abstract]  
SOFTWARE DEVELOPMENT COSTS

NOTE 3 – 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.  At March 31, 2020 and December 31, 2019, software development costs consisted of the following:


Software development costs consisted of the following at March 31, 2020 and December 31, 2019:

 

 

 

March 31,

2020

 

 

December 31, 2019

 

Software Development Costs

 

$

60,000

 

 

$

60,000

 

Less: Accumulated amortization

 

 

(45,000

)

 

 

(40,000

)

Total

 

$

15,000

 

 

$

20,000

 


Amortization expense of software development costs for the three months ended March 31, 2020 and 2019, was $5,000 and $5,000, respectively.