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Intangible Assets, Net
 12 Months Ended
Dec. 31, 2024
Intangible Assets, Net [Abstract]  
Intangible Assets, net

Note 8 – Intangible Assets, net

 

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

 

  

December 31,

2024

  

December 31,

2023

 
         
Software copyrights  $4,890,092   $3,653,104 
Subtotal   4,890,092    3,653,104 
Less: accumulated amortization   (1,036,518)   (345,155)
Accumulated impairment   (2,751,174)   
-
 
Total  $1,102,400   $3,307,949 

 

Amortization expense for the years ended December 31, 2024 and 2023 was $692,755 and $345,155, respectively.

 

Due to limited potential economic benefits for varying reasons for the year ended December 31, 2024, the Company recognized impairment losses of $2,755,659 for the year ended December 31, 2024, to the software copyrights. There was no impairment losses recognized for the year ended December 31, 2023.

 

Future amortization of intangible assets are as follows:

 

   Amortization 
FY2025   249,600 
FY2026   249,600 
FY2027   249,600 
FY2028   249,600 
FY2029   104,000 
Total future amortization of intangible assets  $1,102,400