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Intangible Assets, net
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, net

11. Intangible Assets, net

 

Intangible assets as of December 31, 2021 and 2022 consisted of the followings:

 

   December 31,
2021		   December 31,
2022		 
Computer software at cost  $108,560   $104,211 
Sewage discharge permit*   1,915,740    1,762,129 
    2,024,300    1,866,340 
Accumulated amortization   (62,561)   (557,282)
   $1,961,739   $1,309,058 

 

Amortization expenses were $41,132 and $513,311 for the years ended December 31, 2021 and 2022, respectively.

 

* The Company had not yet obtained the ownership of sewage discharge permit in its Zhejiang manufacturing facilities with a carrying amount of $1,873,168 as of December 31, 2021. The sewage discharge permit was registered under the name of New Era (note 12). The Company has obtained a five years sewage discharge permit on January 27, 2022.

 

Total future amortization expenses for finite-lived intangible assets were estimated as follows:

 

2023  $482,159 
2024   480,805 
2025   320,761 
2026   6,042 
2027   4,528 
Thereafter   14,763 
Total  $1,309,058