Fathom Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

Intangible Assets, Net

12 Months Ended

Dec. 31, 2020

Intangible Assets, Net

Intangible Assets, Net

Note 6. Intangible Assets, Net

Intangible assets, net consisted of the following at the dates indicated:


	December 31, 2020
	Gross
	Carrying				Accumulated		Net Carrying
	Amount		Additions		Amortization		Value
Trade names	$	—	$	166,000	$	(1,383)	$	164,617
Software development		499,300		391,948		(163,718)		727,530
Other		—		30,000		—		30,000
	$	499,300	$	587,948	$	(165,101)	$	922,147


	December 31, 2019
	Gross
	Carrying				Accumulated		Net Carrying
	Amount		Additions		Amortization		Value
Software development	$	167,820	$	331,480	$	(34,458)	$	464,842
	$	167,820	$	331,480	$	(34,458)	$	464,842

As of December 31, 2020 the estimated future amortization expense for definite-lived intangible assets will be:


Years Ended December 31,
2021	$	204,850
2022		204,850
2023		204,850
2024		194,850
2025 and thereafter		112,747
Total		922,147

Amortization expense for capitalized software was approximately $131,000 and $34,000 for the years ended December 31, 2020 and 2019 respectively. Currently, trade names have a useful life estimated at ten years. Capitalized software costs are amortized over the expected useful lives of the applicable software, which is estimated at five years.