Quarterly report pursuant to Section 13 or 15(d)

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

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NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)
3 Months Ended
Mar. 31, 2019
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 $532,679 and $678,655 for the three months ended March 31, 2019 and 2018 respectively.