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Note 10 - Resalable Software License Rights

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Research, Development, and Computer Software Disclosure [Text Block]

10. RESALABLE SOFTWARE LICENSE RIGHTS

On December 31, 2015, the Company purchased third-party software licenses in the amount of $180,000 in anticipation of a large pending deployment that has yet to materialize. The Company is amortizing the total cost over the greater of actual unit cost of licenses sold or the straight line method over 10 years with the greater of the two approaches being the actual unit cost per license sold. A total of $2,481 and $2,579 was expensed during the three month periods ended September 30, 2022 and 2021, respectively. A total of $7,465 and $7,588 was expensed during the nine month periods ended September 30, 2022 and 2021, respectively. Since the license purchase, the cumulative amount of $138,714 has been expensed, with a carrying balance of $41,286 and $48,752 as of September 30, 2022 and December 31, 2021, respectively.

The Company has classified the balance as non-current until a larger deployment occurs.

Estimated minimum amortization expense based on straight-line amortization of the software license rights over the remaining useful life approximates the following:

Years ending December 31
2022 (three months remaining)		$	10,613
2023			18,000
2024			12,673
Total		$	41,286

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 985
-SubTopic 730
-URI https://asc.fasb.org/subtopic&trid=2197926

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