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Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Intangible Assets [Abstract] |
Schedule of Intangible Assets |
|  | Six months ended June 30, 2024 |
|  | Computer software |  |  | Intellectual property rights (Note) |  |  | Total |
January 1 |  |  |  |  |  |  |  |  |
Cost |  | $ | 555,562 |  |  | $ | 6,000,000 |  |  | $ | 6,555,562 |
Accumulated amortization |  |  | (136,050 | ) |  |  | (550,000 | ) |  |  | (686,050 | )
|  | $ | 419,512 |  |  | $ | 5,450,000 |  |  | $ | 5,869,512 |
At January 1 |  | $ | 419,512 |  |  | $ | 5,450,000 |  |  | $ | 5,869,512 |
Additions - acquired separately |  |  | - |  |  |  | 37,508 |  |  |  | 37,508 |
Amortization expenses |  |  | (118,763 | ) |  |  | (323,479 | ) |  |  | (442,242 | )
Net exchange differences |  |  | (26,485 | ) |  |  | 16,854 |  |  |  | (9,631 | )
At June 30 |  | $ | 274,264 |  |  | $ | 5,180,883 |  |  | $ | 5,455,147 |
At June 30 |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 509,348 |  |  | $ | 9,069,035 |  |  | $ | 9,578,383 |
Accumulated amortization |  |  | (235,083 | ) |  |  | (3,888,152 | ) |  |  | (4,123,235 | )
|  | $ | 274,264 |  |  | $ | 5,180,883 |  |  | $ | 5,455,147 |
Note: | On January 10, 2023 (the “Agreement Date”), the Group entered into an intellectual property purchase agreement effective on January 16, 2023 (the “Effective Time”) with SeeQuestor Limited (“SeeQuestor”), a company providing video analytics technology incorporated and registered in England and Wales.
Schedule of Amortization on Intangible Assets | Details of amortization on intangible assets are as follows:
|  | Six months ended June 30, 2024 |  |  | Six months ended June 30, 2023 |
Selling and marketing expenses |  | $ | - |  |  | $ | 3,828 |
General and administrative expenses |  |  | 131,452 |  |  |  | 12,660 |
Research and development expenses |  |  | 310,790 |  |  |  | 390,085 |
|  | $ | 442,242 |  |  | $ | 406,573 |

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