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Intangible Assets
 3 Months Ended
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.