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v3.25.1

Software, Net | 3 Months Ended
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Mar. 31, 2025
Software, Net [Abstract] |
Software, Net | 6. Software, Net Software consisted of the following as of the periods indicated:
|  | As of March 31, 2025 |  |  | As of December 31, 2024 |
Software |  | $ | 1,881,000 |  |  | $ | 1,774,000 |
Retail Platform |  |  | 4,926,000 |  |  |  | 4,093,000 |
Total Software |  |  | 6,807,000 |  |  |  | 5,867,000 |
Less accumulated amortization – Software |  |  | (1,156,000 | ) |  |  | (1,031,000 | )
Total Software, net |  | $ | 5,651,000 |  |  | $ | 4,836,000 |
The Company contracted with a technology vendor in the fourth quarter of 2023 to support the development of the Retail Platform, supplementing its internal technology resources. The total software development cost related to the Retail Platform was $4,926,000 as of March 31, 2025, all of which was capitalized. Amortization for the Retail Platform will commence once it is placed in service, which is expected to be in the second quarter of 2025. Total amortization of software was $125,000 and $109,000 for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, the Company estimates the following future amortization of software assets:
Year |  | Amount |
2025 |  | $ | 913,000 |
2026 |  |  | 1,235,000 |
2027 |  |  | 1,046,000 |
2028 |  |  | 983,000 |
2029 and after |  |  | 1,474,000 |
Total |  | $ | 5,651,000 |

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