Intangible Assets, Net (Other than Goodwill)

12 Months Ended

Dec. 31, 2023

Intangible Assets, Net (Other than Goodwill) [Abstract]

INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

NOTE 4 – INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

The Company’s intangible assets consist of intellectual property acquired from FIN in addition to internally developed software that have been placed into service. They are amortized over their estimated useful lives as indicated below. The following is a summary of activity related to intangible assets for the years ended December 31, 2023 and 2022:

	Acquired and Developed Software			Patents			Total
Useful Lives	5 Years			10 Years
Carrying Value at December 31, 2021		2,238,882			140,570			2,379,452
Additions		-			6,311			6,311
Impairment of assets		(1,107,867	)		-			(1,107,867	)
Amortization		(695,420	)		(16,217	)		(711,637	)
Carrying Value at December 31, 2022	$	435,595		$	130,664		$	566,259
Additions		16,600			-			16,600
Impairment of assets		-			-			-
Amortization		(239,397	)		(16,461	)		(255,858	)
Carrying Value at December 31, 2023	$	212,798		$	114,203		$	327,001

The following is a summary of intangible assets as of December 31, 2023:

	Acquired and Developed Software			Patents			Total
Cost		1,734,662			164,614			1,899,276
Accumulated amortization		(1,521,864	)		(50,411	)		(1,572,275	)
Carrying Value at December 31, 2023	$	212,798		$	114,203		$	327,001

The following is a summary of intangible assets as of December 31, 2022:

	Acquired and Developed Software			Patents			Total
Cost		4,476,271			164,614			4,640,885
Accumulated amortization		(4,040,676	)		(33,950	)		(4,074,626	)
Carrying Value at December 31, 2023	$	435,595		$	130,664		$	566,259

The following is the future amortization of intangible assets for the year ended December 31:

2024		173,632
2025		69,331
2026		19,228
2027		16,461
2028		16,461
Thereafter		31,888
	$	327,001