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Intangible Assets
 12 Months Ended
Dec. 31, 2024
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

12. INTANGIBLE ASSETS

 

Intangible assets consist of the following:

 

   December 31,   December 31, 
   2024   2023 
         
Trademarks  $847   $847 
System and software   2,702,821    2,730,549 
Subtotal   2,703,668    2,731,396 
Less: accumulated depreciation and amortization   (366,441)   (311,131)
Less: impairment   (1,804,405)   (1,831,283)
Total   532,822    588,982 

 

Amortization expense included in general and administration expenses for the years ended December 31, 2024 and 2023 was $57,035 and $57,035, respectively. Amortization expense included in cost of sales for the years ended December 31, 2024 and 2023 was $0 and $0, respectively.

 

The estimated amortization is as follows:

 

As of December 31,  Estimated
amortization
expense		 
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 
From January 1, 2028 to December 31, 2029   57,035 
From January 1, 2029 to December 31, 2030   57,035 
Thereafter   119,699 
Total  $404,874 

 

The trading rights of license plates 1 and 2 on the Hong Kong Stock Exchange have no expiration date and do not require amortization, amount was $127,948.