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Intangible Assets, Net
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

9. INTANGIBLE ASSETS, NET

 

As of December 31, 2020 and 2019, intangible assets consist of:

 

    Software and software              
    development costs     Trademarks     Total  
Gross carrying amounts Balance as of January 1, 2019   $ 4,083,543       892,848       4,976,391  
Foreign currency translation     (53,061 )     (11,603 )     (64,664 )
Balance as of December 31, 2019     4,030,482       881,245       4,911,727  
Foreign currency translation     266,062       58,173       324,235  
Balance as of December 31, 2020     4,296,545       939,419       5,235,964  
Accumulated amortization Balance as of January 1, 2019     4,037,464       879,006       4,916,470  
Amortization expense     45,889       12,275       58,164  
Foreign currency translation     (52,871 )     (11,532 )     (64,403 )
Balance as of December 31, 2019     4,030,482       879,749       4,910,231  
Amortization expense     -       1,510       1,510  
Foreign currency translation     266,062       58,160       324,221  
Balance as of December 31, 2020     4,296,545       939,419       5,235,964  
Intangible assets, net   $ -     $ -     $ -  

 

Amortization expense for the year ended December 31, 2020, 2019 and 2018 was approximately $1,510, $0.06 million and $0.7 million, respectively. Intangible assets were fully amortized in 2020.