Intangible Assets

6 Months Ended

Jun. 30, 2023

Intangible Assets

Intangible Assets

NOTE 5 – Intangible Assets

On June 16, 2022, pursuant to the terms of a stock purchase agreement, Fvndit purchased from the Company all of the shares of Fvndit’s common stock then owned by the Company and certain accounts receivable that were due from Fvndit to the Company. As consideration for the sale of the shares and the accounts receivable to Fvndit, the Company acquired all rights to certain proprietary information and copyrights associated with Fvndit’s online investment marketplace business in Vietnam, the right to the name Fvndit, ownership of the “fvndit.com” domain name, and certain information related to Fvndit’s customers.

The change in the intangible assets has been summarized under the following table for the six-month period ended June 30, 2023:

Intangible Assets	June 30, 2023			December 31, 2022
Beginning balance	$	305,469		$	-
Acquired Intangible Assets:
Proprietary Information		-			321,547
Amortization		(16,078	)		(16,078	)
Ending balance	$	289,391		$	305,469

The proprietary information has a useful life of 10 years and is amortized accordingly.