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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

6. Property, Plant and Equipment

 

The amount of property and equipment are as follows:

 

 

         
   As of December 31, 
   2022   2021 
Office equipment, furniture and fixtures  $363,167   $169,570 
Less: accumulated depreciation and amortization   22,284    60,428 
Office equipment, furniture and fixtures, net  $ 340,883   $109,142 

 

During the years ended December 31, 2022 and 2021, the Company recorded depreciation expense of approximately $55,000 and $43,000, respectively.

 

 

The amount of motor vehicle are as follows:

 

 

   2022   2021 
   As of December 31, 
   2022   2021 
Motor vehicle  $98,632   $- 
Less: accumulated depreciation   84,542    - 
Motor vehicle, net  $14,090   $- 

 

During the year ended December 31, 2022 and 2021, the Company recorded depreciation expense of approximately $21,000 and nil respectively.

 

The amount of computer software costs are as follows:

 

 

   2022   2021 
   As of December 31, 
   2022   2021 
Computer software  $80,155   $41,707 
Less: accumulated amortization   41,038    28,523 
Computer software costs, net  $39,117   $13,184 

 

During the years ended December 31, 2022 and 2021, the Company recorded amortization expense related to computer software of approximately $13,000, and $13,000, respectively.