v3.22.1
Assets Held For Sale
3 Months Ended
Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]  
ASSETS HELD FOR SALE

NOTE 6 – ASSETS HELD FOR SALE

 

In January 2021, the Company invested $30,000 to develop a mobile gaming application Blackjack Plus, which is currently available on the Apple iStore. During the three months ended March 31, 2022, the Company initiated the sale of the Blackjack Plus application to its former CEO for a $30,000 reduction in his note, along with an agreement to license and market the application. The Company is currently in the process of finalizing the transaction.

 

Before the Blackjack Plus application was sold to the Company’s former CEO, it was exclusively owned by the Company and the Company recorded this as an intangible asset and has determined a useful life of three years for this asset. As of March 31, 2022, the Company reclassified this Blackjack Plus application from intangible assets and recorded it as assets held for sale on the accompanying unaudited consolidated balance sheet.