Intangible Assets |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | Note 6 – Intangible Assets
As of September 30, 2023 and December 31, 2022, intangible assets consisted of the following:
Amortization expense was $153,432 and $4,023 for the nine months ended September 30, 2023 and 2022; and $122,879 and $1,341 for the three months ended September 30, 2023 and 2022. Amortization of intangible assets from discontinued operations was $0 for the nine months ended September 30, 2023 and 2022, respectively.
On May 10, 2023, the virtual reality and augmented reality development project was completed and put it in use. The total payment to IT firm was 11,000,000 Malyaia Ringgit ($2,343,517) and was recorded as intangible asset. (see Note 8)
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