v3.25.2
Capitalized Software Development Costs, Work in Progress
6 Months Ended
Jun. 30, 2025
Capitalized Software Development Costs, Work in Progress  
Capitalized Software Development Costs, Work In Progress

Note 6 - Capitalized Software Development Costs, Work In Progress

 

The Company adheres to ASC 350-40, Intangibles – Goodwill and Other, Internal-Use Software (“ASC 350”) for the capitalization of software development costs. During the six months ended June 30, 2025, the Company impaired the carrying amount of capitalized software due to the lack of further development thereof and such software becoming obsolete.

 

 

 

June 30, 2025

 

 

Dec 31, 2024

 

 

 

Gross carrying amount

 

 

Additions

 

 

Impaired

 

 

Net carrying value

 

 

Gross carrying amount

 

 

Additions

 

 

Impaired

 

 

Reclassified to intangibles and expenses

 

 

Net carrying value

 

Capitalized software development costs, work in progress

 

$105,900

 

 

$

 

 

$(105,900)

 

$

 

 

$839,085

 

 

$516,544

 

 

$(202,968)

 

$(1,046,761)

 

$105,900

 

Total

 

$105,900

 

 

$

 

 

$(105,900)

 

$

 

 

$839,085

 

 

$516,544

 

 

 

(202,968)

 

$(1,046,761)

 

$105,900