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Software, Net

9 Months Ended

Sep. 30, 2023

10. Software, Net

Software consisted of the following as of the periods indicated:

	As of September 30, 2023			As of December 31, 2022
Robo-advisor	$	763,000		$	763,000
Other software		4,365,000			3,342,000
Total Software		5,128,000			4,105,000
Less accumulated amortization – robo-advisor		(763,000	)		(763,000	)
Less accumulated amortization – other software		(2,664,000	)		(2,351,000	)
Total Software, net	$	1,701,000		$	991,000

In the fourth quarter of 2022, the Company partnered with a technology partner to develop a new retail trading platform for the Company’s customers and integrate this platform into the Company’s operations. The total capitalized software development work related to this project was $1,133,000 as of September 30, 2023, of which $219,000 and $776,000 was capitalized during the three and nine months ended September 30, 2023, respectively.

Total amortization of software was $98,000 and $138,000 for the three months ended September 30, 2023 and 2022, respectively. Total amortization of software was $312,000 and $461,000 for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023, the Company estimates future amortization of software assets of $176,000, $684,000, $537,000, and $304,000 in the years ended December 31, 2023, 2024, 2025, and 2026, respectively.