|
5. Intangibles
Intangible assets consist of the following at September 30, 2011 and December 31, 2010 respectively:
|
Capitalized Software Development Costs |
|
756,729 |
|
$ |
452,516 |
|
|
Less: Accumulated amortization |
|
(95,097 |
) |
(11,937 |
) |
|
Net capitalized development costs |
|
$ |
661,632 |
|
$ |
440,579 |
|
|
|
|
|
|
|
|
|
The capitalized software development costs include $13,119 of interest capitalized as of September 30, 2011. The amortization expense relating to the capitalized development cost was $32,107 and $83,160 for the three and nine months ended September 30, 2011 respectively and $0 for the three and nine months ended September 30, 2010.
Amortization expense over the next five years and thereafter is estimated to be as follows:
|
2011 |
|
$ |
36,758 |
|
|
2012 |
|
$ |
147,033 |
|
|
2013 |
|
$ |
147,033 |
|
|
2014 |
|
$ |
147,033 |
|
|
2015 |
|
$ |
133,977 |
|
|
thereafter |
|
$ |
49,797 |
|
|
|
|
$ |
661,632 |
| |