Intangible assets, net

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Note 6 – Intangible assets, net

Intangible asset, net comprised of the following:

	March 31, 2024			December 31, 2023
At Cost:
Intellectual Property License		2,036,742			2,159,842
		2,036,742			2,159,842
Less: Accumulated amortization		(194,712	)		(89,993	)
Total, net		1,929,415			2,069,849

Amortization expenses was $107,327 and $106 for the three months ended March 31, 2024 and 2023, respectively. There was no impairment loss was not recognized for the three months ended March 31, 2024 and 2023, respectively.

The intellectual property license comprises of a five-year non-exclusive license to utilize certain intellectual property pertaining to wood panel manufacturing within China.