CAPITALIZED SOFTWARE DEVELOPMENT COSTS |
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Mar. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| CAPITALIZED SOFTWARE DEVELOPMENT COSTS |
4. CAPITALIZED SOFTWARE DEVELOPMENT COSTS
In 2020, the Company began developing MARKET.live, a livestream ecommerce platform, and has capitalized $7,131 of internal and external development costs as of March 31, 2025 and December 31, 2024, respectively. In October 2021, the Company entered into a 10-year license and services agreement with a third party (the “Primary Contractor”) to develop on a work-for-hire basis certain components of MARKET.live. The Primary Contractor’s fees for developing such components, including the license fee, is $5,750. The Primary Contractor was paid an additional $500 bonus in April 2022 for services rendered pursuant to the license and service agreement.
For the three months ended March 31, 2025 and 2024, the Company amortized $249 and $249, respectively.
Capitalized software development costs, net consisted of the following:
The expected future amortization expense for capitalized software development costs as of March 31, 2025, is as follows:
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