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Intangible Assets, Net
 3 Months Ended
Mar. 31, 2024
Intangible Assets, Net [Abstract]  
Intangible Assets, net

Note 9 – Intangible Assets, net

 

Intangible assets consisted of the following as of March 31, 2024 and December 31, 2023:

 

   March 31,
2024		   December 31,
2023		 
   (unaudited)     
Software  $3,646,382   $3,653,104 
Subtotal   3,646,382    3,653,104 
Less: accumulated amortization   (527,138)   (345,155)
Total  $3,119,244   $3,307,949 

 

The Company’s intangible assets include a software of $750,000 purchased from a third party by issuance of 180,000 of the Company’s common stock (as disclosed in Note 16) and software of $2,903,104 purchased by the Company in cash. The Company amortizes its software over their estimated useful lives and reviews these assets for impairment.

 

Amortization expense for the three months ended March 31, 2024 and 2023 was $182,373 and nil, respectively.