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Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

13. INTANGIBLE ASSETS

Intangible assets consist of the following:

		March 31,				December 31,
		2023				2022
Trademarks		$	873				862
System and software			2,605,759				2,578,647
Subtotal			2,606,632				2,579,509
Less: accumulated depreciation and amortization			(215,391	)			(199,151	)
Less: impairment			(1,887,431	)			(1,862,289	)
Total		$	503,810			$	518,069

Amortization expense included in general and administration expenses for the three months ended March 31, 2023 and 2022 was $14,259 and $11,768, respectively. Amortization expense included in cost of sales for the three months ended March 31, 2023 and 2022 was $0 and $0, respectively.

The estimated amortization is as follows:

As of March 31,		Estimated amortization expense
From April 1, 2023 to March 31, 2024		$	57,035
From April 1, 2024 to March 31, 2025			57,035
From April 1, 2025 to March 31, 2026			57,035
From April 1, 2026 to March 31, 2027			57,035
From April 1, 2027 to March 31, 2028			57,035
Thereafter			218,635
Total		$	503,810

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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
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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