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Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

13. INTANGIBLE ASSETS

Intangible assets consist of the following:

		December 31,				December 31,
		2022				2021
Trademarks		$	862			$	941
System and software			2,578,647				2,126,791
Subtotal			2,579,509				2,127,732
Less: accumulated depreciation and amortization			(199,151	)			(148,533	)
Less: impairment			(1,862,289	)			(1,903,059	)
Total			518,069				76,140

Amortization expense included in general and administration expenses for the years ended December 31, 2022 and 2021 was $63,552 and $5,340, respectively. Amortization expense included in cost of sales for the years ended December 31, 2022 and 2021 was $0 and $0, respectively.

The estimated amortization is as follows:

As of December 31,		Estimated amortization expense
From January 1, 2023 to December 31, 2023		$	57,035
From January 1, 2024 to December 31, 2024			57,035
From January 1, 2025 to December 31, 2025			57,035
From January 1, 2026 to December 31, 2026			57,035
From January 1, 2027 to December 31, 2027			57,035
Thereafter			232,894
Total		$	518,069

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- References

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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

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