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Intangible Assets, Net
 12 Months Ended
Dec. 31, 2022
Intangible Assets, Net [Abstract]  
INTANGIBLE ASSETS, NET

6. INTANGIBLE ASSETS, NET

 

As of December 31, 2021 and 2022, intangible assets consisted of the following:

 

  

December 31,

2021

  

December 31,

2022

 
Intangible assets – gross  $21,154   $27,055 
Less: accumulated amortization   (4,436)   (6,758)
   $16,718   $20,297 

 

The balance of intangible assets mainly represents software related to CHEERS App, primarily consisting e-mall, online game, video media library and data warehouse modules, etc., acquired externally tailored to the Company’s requirements and is amortized straight-line over 7 years in accordance with the way the Company estimates to generate economic benefits from such software.

 

For the years ended December 31, 2020, 2021 and 2022, amortization expense amounted to $2,754, $2,008 and $2,794, respectively. The following is a schedule, by fiscal years, of amortization amount of intangible asset as of December 31, 2022:

 

2023  $3,225 
2024   3,225 
2025   3,225 
2026   2,688 
Thereafter   8,654 
Total  $20,297