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Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Intangible Assets [Abstract] |
INTANGIBLE ASSETS | 13. INTANGIBLE ASSETS Intangible assets consist of the following:
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Trademarks |  | $ | 128,063 |  |  |  | 847 |
System and software |  |  | 2,498,901 |  |  |  | 2,730,549 |
Subtotal |  |  | 2,626,964 |  |  |  | 2,731,396 |
Less: accumulated depreciation and amortization |  |  | (332,708 | ) |  |  | (311,131 | )
Less: impairment |  |  | (1,733,677 | ) |  |  | (1,831,283 | )
Total |  | $ | 560,579 |  |  | $ | 588,982 |
Amortization expense included in general and administration expenses for the six months ended June 30, 2024 and 2023 was $28,518 and $28,518, respectively. Amortization expense included in cost of sales for the six months ended June 30, 2024 and 2023 was $0 and $0, respectively. The estimated amortization is as follows:
As of June 30, |  | Estimated amortization expense |
From July 1, 2024 to July 31, 2025 |  | $ | 57,035 |
From July 1, 2025 to July 31, 2026 |  |  | 57,035 |
From July 1, 2026 to July 31, 2027 |  |  | 57,035 |
From July 1, 2027 to July 31, 2028 |  |  | 57,035 |
From July 1, 2028 to July 31, 2029 |  |  | 57,035 |
Thereafter |  |  | 147,631 |
Total |  | $ | 432,806 |
Type 1 and Type 2 licenses by Hong Kong Securities and Futures Commission have no expiration date and do not require amortization, amount was $127,773.

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