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Intangible Assets, Net
 6 Months Ended
Jun. 30, 2024
Intangible Assets, Net [Abstract]  
Intangible Assets, net

Note 9 – Intangible Assets, net

 

Intangible assets consisted of the following as of June 30, 2024 and December 31, 2023:

 

  

June 30,

2024

  

December 31,

2023

 
   (unaudited)     
Software  $4,891,824   $3,653,104 
Subtotal   4,891,824    3,653,104 
Less: accumulated amortization   (729,874)   (345,155)
Total  $4,161,950   $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), software of $2,903,104 purchased by the Company in cash and a software of $1,248,000 purchased from a third party by issuance of 1,560,000 of the Company’s common stock (as disclosed in Note 16). The Company amortizes its software over their estimated useful lives and reviews these assets for impairment.

 

Amortization expense for the three months ended June 30, 2024 and 2023 was $203,134 and nil, respectively. Amortization expense for the six months ended June 30, 2024 and 2023 was $385,468 and nil, respectively.