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NOTE 3 — Intangible Assets
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
NOTE 3 — Intangible Assets

NOTE 3 — Intangible Assets

 

In 2021, the Company entered into the Technology Transfer Agreement with SpringCard SAS (“SpringCard”). The Unaudited Condensed Balance Sheets include the intangible assets of the acquired technology at the carrying amount, net of amortization of $1,623,017 as of June 30, 2023.

 

The intangible assets are amortized on a straight-line basis over their estimated useful lives of fifteen years, beginning on April 1, 2021. As of June 30, 2023, the estimated future amortization of these intangible assets is as follows:

 

   
Fiscal Year Amount
2023 (July 1, 2023 to December 31, 2023) $      63,648
2024 127,296
2025 127,296
2026 127,296
2027 127,296
Thereafter 1,050,185
 Total $   1,623,017