Annual report pursuant to Section 13 and 15(d)

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

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NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)
12 Months Ended
Dec. 31, 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 $2,056,175 and $1,352,969 for the year ended December 31, 2018 and 2017, respectively.