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Intangible Assets, Net (Other than Goodwill) | 12 Months Ended
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Dec. 31, 2022
Intangible Assets, Net (Other than Goodwill) [Abstract] |
INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL) | NOTE 4 – INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL) The Company’s intangible assets consist of intellectual property acquired from FIN in addition to internally developed software that have been placed into service. They are amortized over their estimated useful lives as indicated below. The following is a summary of activity related to intangible assets for the years ended December 31, 2022 and 2021:
|  | Acquired and |  |  |  |  |  |  |  |  |  |
|  | Developed |  |  | Intellectual |  |  |  |  |  |  |
|  | Software |  |  | Property |  |  | Patents |  |  | Total |
Useful Lives |  |  | 5 Years |  |  |  | 10 Years |  |  |  | 10 Years |  |  |  |  |
Carrying Value at December 31, 2020 |  | $ | 3,171,394 |  |  | $ | 416,471 |  |  | $ | 128,308 |  |  | $ | 3,716,173 |
Additions |  |  | - |  |  |  | - |  |  |  | 26,705 |  |  |  | 26,705 |
Impairment of assets |  |  | - |  |  |  | (335,101 | ) |  |  | - |  |  |  | (335,101 | )
Amortization |  |  | (932,512 | ) |  |  | (81,370 | ) |  |  | (14,443 | ) |  |  | (1,028,325 | )
Carrying Value at December 31, 2021 |  |  | 2,238,882 |  |  |  | - |  |  |  | 140,570 |  |  |  | 2,379,452 |
Additions |  |  | - |  |  |  | - |  |  |  | 6,311 |  |  |  | 6,311 |
Impairment of assets |  |  | (1,107,867 | ) |  |  | - |  |  |  | - |  |  |  | (1,107,867 | )
Amortization |  |  | (695,420 | ) |  |  | - |  |  |  | (16,217 | ) |  |  | (711,637 | )
Carrying Value at December 31, 2022 |  | $ | 435,595 |  |  | $ | - |  |  | $ | 130,664 |  |  | $ | 566,259 |
The following is a summary of intangible assets as of December 31, 2022:
|  | Acquired and |  |  |  |  |  |  |  |  |  |
|  | Developed |  |  | Intellectual |  |  |  |  |  |  |
|  | Software |  |  | Property |  |  | Patents |  |  | Total |
Cost |  | $ | 4,476,271 |  |  | $ | - |  |  | $ | 164,614 |  |  | $ | 4,640,885 |
Accumulated amortization |  |  | (4,040,676 | ) |  |  | - |  |  |  | (33,950 | ) |  |  | (4,074,626 | )
Carrying Value at December 31, 2022 |  | $ | 435,595 |  |  | $ | - |  |  | $ | 130,664 |  |  | $ | 566,259 |
The following is a summary of intangible assets as of December 31, 2021:
|  | Acquired |  |  |  |  |  |  |  |  |  |
|  | and |  |  |  |  |  |  |  |  |  |
|  | Developed |  |  | Intellectual |  |  |  |  |  |  |
|  | Software |  |  | Property |  |  | Patents |  |  | Total |
Cost |  | $ | 4,476,271 |  |  | $ | - |  |  | $ | 158,303 |  |  | $ | 4,634,574 |
Accumulated amortization |  |  | (2,237,389 | ) |  |  | - |  |  |  | (17,733 | ) |  |  | (2,255,122 | )
Carrying Value at December 31, 2021 |  | $ | 2,238,882 |  |  | $ | - |  |  | $ | 140,570 |  |  | $ | 2,379,452 |
The following is the future amortization of intangible assets for the year ended December 31:
2023 |  | $ | 253,080 |
2024 |  |  | 168,094 |
2025 |  |  | 63,791 |
2026 |  |  | 16,456 |
2027 |  |  | 16,456 |
Thereafter |  |  | 48,382 |
|  | $ | 566,259 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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