XML 22 R12.htm IDEA: XBRL DOCUMENT

Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

On June 30, 2022 and December 31, 2021, intangible asset consisted of the following:

		Useful life		June 30, 2022				December 31, 2021
Patents		5 years		$	1,090,000			$	-
Less: accumulated amortization					-				-
				$	1,090,000			$	-

On June 29, 2022, in connection with the acquisition of Avilla, the Company issued an aggregate of 1,000,000 shares of the Company’s common stock. These shares were value at $1,090,000, or $1.09 per share, based on the quoted closing price of the Company’s common stock on the measurement date. The acquisition included patents for intellectual property rights in blockchain based digital rights management and object sharing technology, including encrypted WebRTC real-time video and audio streaming communications. (See Note 3).

For the six months ended June 30, 2022 and 2021, amortization of intangible assets amounted to $0.

Amortization of intangible assets attributable to future periods is as follows:

Year ending June 30:		Amount
2023		$	218,000
2024			218,000
2025			218,000
2026			218,000
2027			218,000
		$	1,090,000