XML 32 R16.htm IDEA: XBRL DOCUMENT v3.21.1

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

10. Intangible assets, net

The Company’s intangible assets with definite useful lives primarily consist of patents and licensed software. The following table summarizes the components of acquired intangible asset balances as of:

		December 31,				December 31,
		2020				2019
Patents		$	1,347,307			$	1,115,004
Licensed software			5,610,459				6,067,218
Software development costs			9,412,638				1,080,020
Less: accumulated amortization			(2,117,829	)			(1,503,926	)
Intangible assets, net		$	14,252,575			$	6,758,316

Amortization expenses for the years ended December 31, 2020, 2019 and 2018 amounted to $482,332, $821,203 and $362,355, respectively.

The estimated amortization is as follows:

For the year ended December 31		Estimated amortization expense
2021		$	1,634,512
2022			1,634,512
2023			1,634,512
2024			1,634,512
2025			1,634,512
Thereafter			6,080,015
Total		$	14,252,575

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

+ Details

Name:	us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration