9. Software, Net

Software consisted of the following as of the periods indicated:

The Company contracted with a technology vendor to develop a new retail platform for the Company’s customers and integrate this platform into the Company’s operations (“Retail Platform”). The total software development expense related to this project was $1,793,000 as of March 31, 2024, 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 third quarter of 2024.

Total amortization of software was $109,000 and $110,000 for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the Company estimates future amortization of software assets of $637,000, $654,000, $485,000, and $809,000 in the years ended December 31, 2024, 2025, 2026, and after 2026, respectively.

Transaction with J2 Financial Technology

On January 18, 2024, STCH entered into a Purchase Agreement (the “Purchase Agreement”) with J2 Financial Technology, Inc., d/b/a “Guild”, a Delaware corporation (“J2 Financial”).

Under the Purchase Agreement, STCH purchased a mobile self-directed trading app for the total purchase price of $385,000. The purchase price consisted of $35,000 of cash and 200,000 restricted shares of the Company’s common stock (priced at the historical 30-day moving average as of January 18, 2024) worth approximately $350,000. This purchase is part of the software related to the Retail Platform.