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SOFTWARE DEVELOPMENT COSTS | 6 Months Ended
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Jun. 30, 2025
Research and Development [Abstract] |
SOFTWARE DEVELOPMENT COSTS | SOFTWARE DEVELOPMENT COSTS Software development costs consist of the following:
| June 30, 2025 |  | December 31, 2024
Software development costs | $ | 3,242,018 |  |  | $ | 2,896,099 |
Less accumulated amortization | (1,059,777) |  |  | (809,439) |
Software development costs, net | $ | 2,182,241 |  |  | $ | 2,086,660 |
The Company capitalized software development costs of $211,183 and $363,474 during the three months ended June 30, 2025 and 2024, respectively, and $360,490 and $437,152 for the six months ended June 30, 2025 and 2024 respectively. As of June 30, 2025, the Company has capitalized $3.2 million in direct materials, consulting, payroll, and benefit costs to its internal-use software development costs in the consolidated balance sheet. The Company amortizes its software development costs, commencing upon the initial release of the software or additional features, on a straight-line basis over the estimated useful life of five years, which is consistent with the amount of time its legacy platforms were in service or its actual useful life, if shorter. The Company recorded amortization expenses associated with its capitalized software development cost of $127,514 and $124,381 during the three months ended June 30, 2025 and 2024, respectively, and $264,910 and $252,686 during the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, future estimated amortization expense related to software development costs is set forth in the following schedule:
| Software Development Amortization Expense
2025 | 256,699 |
2026 | 640,848 |
2027 | 609,569 |
2028 | 343,329 |
2029 | 199,460 |
2030 | $ | 132,336 |
Total | $ | 2,182,241 |

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- Definition The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 730 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483041/730-20-50-1 + Details
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