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v3.25.1

Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Intangible Assets [Abstract] |
INTANGIBLE ASSETS | 9. INTANGIBLE ASSETS Intangible assets consist of the following:
|  | March 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Trading rights of license plates |  | $ | 128,560 |  |  | $ | 128,824 |
System and software |  |  | 628,013 |  |  |  | 628,131 |
Subtotal |  |  | 756,573 |  |  |  | 756,955 |
Less: accumulated depreciation and amortization |  |  | (238,274 | ) |  |  | (224,133 | )
Total |  | $ | 518,299 |  |  | $ | 532,822 |
Amortization expense included in general and administration expenses for the three months ended March 31, 2025 and 2024 was $14,259 and $14,259, respectively. Amortization expense included in cost of sales for the three months ended March 31, 2025 and 2024 was $0 and $0, respectively. The estimated amortization is as follows:
As of March 31, |  | Estimated amortization expense |
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 |
From April 1, 2028 to March 31, 2029 |  |  | 57,035 |
From April 1, 2029 to March 31, 2030 |  |  | 57,035 |
Thereafter |  |  | 104,564 |
Total |  | $ | 389,740 |
Type 1 and Type 2 licenses by Hong Kong Securities and Futures Commission have no expiration date and do not require amortization, amount was $128,560 and $128,824.

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