Quarterly report pursuant to Section 13 or 15(d)

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)

v3.10.0.1
NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)
6 Months Ended
Jun. 30, 2018
Policies  
Research and Development

Research and Development

 

The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $672,743 and $62,949 for the three months ended June 30, 2018 and 2017 respectively. The Company incurred research and development expenses of $1,351,398 and $203,314 for the six months ended June 30, 2018 and 2017 respectively.