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Software, Net | 9 Months Ended
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Sep. 30, 2023
Software, Net [Abstract] |
Software, Net | 10. Software, Net Software consisted of the following as of the periods indicated:
|  | As of September 30, 2023 |  |  | As of December 31, 2022 |
Robo-advisor |  | $ | 763,000 |  |  | $ | 763,000 |
Other software |  |  | 4,365,000 |  |  |  | 3,342,000 |
Total Software |  |  | 5,128,000 |  |  |  | 4,105,000 |
Less accumulated amortization – robo-advisor |  |  | (763,000 | ) |  |  | (763,000 | )
Less accumulated amortization – other software |  |  | (2,664,000 | ) |  |  | (2,351,000 | )
Total Software, net |  | $ | 1,701,000 |  |  | $ | 991,000 |
In the fourth quarter of 2022, the Company partnered with a technology partner to develop a new retail trading platform for the Company’s customers and integrate this platform into the Company’s operations. The total capitalized software development work related to this project was $1,133,000 as of September 30, 2023, of which $219,000 and $776,000 was capitalized during the three and nine months ended September 30, 2023, respectively. Total amortization of software was $98,000 and $138,000 for the three months ended September 30, 2023 and 2022, respectively. Total amortization of software was $312,000 and $461,000 for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023, the Company estimates future amortization of software assets of $176,000, $684,000, $537,000, and $304,000 in the years ended December 31, 2023, 2024, 2025, and 2026, respectively.

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