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Platform Development

12 Months Ended

Dec. 31, 2018

6. Platform Development

Platform development costs are summarized as follows:

	As of December 31,
	2018			2017
Platform development	$	6,833,900		$	3,145,308
Less accumulated amortization		(2,125,944	)		(512,251	)
Net platform development	$	4,707,956		$	2,633,057

A summary of platform development activity for the year ended December 31, 2018 is as follows:

Platform development at January 1, 2018	$	3,145,308
Costs capitalized during the period:
Payroll-based costs		2,156,015
Stock based compensation		1,850,384
Dispositions		(317,807	)
Platform development at December 31, 2018	$	6,833,900

During the year ended December 31, 2017, the Company capitalized $2,594,691 of platform development, of which $614,573 represented stock based compensation.

Amortization expense for the platform development for the years ended December 31, 2018 and 2017, was $1,836,625 and $512,252, respectively. Amortization expense for platform development is included in cost of revenues on the consolidated statements of operations.