Platform Development

12 Months Ended

Dec. 31, 2019

Platform Development

Platform Development

8. Platform Development

Platform development costs are summarized as follows:

	As of December 31,
	2019			2018
Platform development	$	10,678,692		$	6,833,900
Less accumulated amortization		(4,785,973	)		(2,125,944	)
Net platform development	$	5,892,719		$	4,707,956

A summary of platform development activity for the years ended December 31, 2019 and 2018 is as follows:

	As of December 31,
	2019		2018
Platform development beginning of year	$	6,833,900	$	3,145,308
Costs capitalized during the period:
Additions related HubPages acquisition		-		69,052
Payroll-based costs		2,537,402		2,086,963
Total capitalized payroll-based costs		9,371,302		5,301,323
Stock-based compensation		1,307,390		1,850,384
Dispositions		-		(317,807	)
Platform development end of year	$	10,678,692	$	6,833,900

Amortization expense for platform development for the years ended December 31, 2019 and 2018, was $2,660,029 and $1,836,625, respectively, is included within cost of revenues on the consolidated statements of operations.