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Intangible Assets, Net
 12 Months Ended
Sep. 30, 2023
Intangible Assets, Net [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 6 — INTANGIBLE ASSETS, NET

 

Intangible assets, net consisted of the following:

 

   As of
September 30, 2023		 
   Gross
Carrying
Amount		   Accumulated
Amortization		 
   US$   US$ 
Intangible assets        
Licensed digital assets  $6,918,572   $(412,780)
Total  $6,918,572   $(412,780)

 

Aggregate Amortization expenses:    
For year ended 9/30/2023  $412,780 

 

Estimated Amortization Expenses:    
For year ended 9/30/2024  $1,512,046 
For year ended 9/30/2025  $1,507,914 
For year ended 9/30/2026  $1,287,201 
For year ended 9/30/2027  $1,197,414 
For year ended 9/30/2028  $1,001,217 

 

The movement of intangible assets is as follows:

 

   As of
September 30, 2023		 
   Gross
Carrying
Amount		   Accumulated
Amortization		 
   US$   US$ 
Balance at beginning of the year  $
—
   $
—
 
Additions(a)   6,918,572    426,983 
Disposal   
—
    
—
 
Foreign exchange translation   
—
    (14,203)
Balance at end of the year  $6,918,572   $412,780 

 

(a)Additions are all acquired from third-party suppliers in the current year.

 

Amortization expense was $426,983 and $nil for the years ended September 30, 2023 and 2022, respectively. Costs incurred to renew or extend the term of recognized intangible assets are capitalized and amortized over the useful life of the asset. For the years ended September 30, 2023 and 2022, no such cost incurred.