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INTANGIBLE ASSETS, NET | 12 Months Ended
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Dec. 31, 2023
Seamless Group Inc [Member] |
INTANGIBLE ASSETS, NET | 8 Intangible assets, net INTANGIBLE ASSETS, NET Intangible assets, net as of December 31, 2023 and 2022 consisted of the following: SCHEDULE OF INTANGIBLE ASSETS NET
|  | 2023 |  |  | 2022 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Software |  |  | 22,778,055 |  |  |  | 20,546,739 |
Developed technologies |  |  | 5,853,354 |  |  |  | 5,853,354 |
Trade names and trademarks |  |  | 7,043,640 |  |  |  | 7,043,640 |
Total |  |  | 35,675,049 |  |  |  | 33,443,733 |
Intangible assets, gross |  |  | 35,675,049 |  |  |  | 33,443,733 |
Less: accumulated amortization |  |  | (26,483,336 | ) |  |  | (23,593,955 | )
Intangible assets, net |  |  | 9,191,713 |  |  |  | 9,849,778 |
Amortization expenses of US$1,587,906 and US$1,612,937 were recorded in cost of revenue and general and administrative expenses respectively, for the year ended December 31, 2023. Amortization expenses of US$1,984,831 and US$1,540,557 were recorded in cost of revenue and general and administrative expenses respectively, for the year ended December 31, 2022. SEAMLESS GROUP INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
8 | Intangible assets, net (Continued)
As of December 31, 2023, the estimated future amortization expense for each of the next five years and thereafter was as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSES
|  | Amortization |
|  | US$ |
For the year ending December 31, |  |  |  |
2024 |  |  | 2,948,062 |
2025 |  |  | 2,779,867 |
2026 |  |  | 2,343,051 |
2027 |  |  | 815,240 |
2028 |  |  | 305,493 |
Thereafter |  |  | — |
Total |  |  | 9,191,713 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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- Details
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