XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Software, Net
 3 Months Ended
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