Intangible Assets

12 Months Ended

Dec. 31, 2022

Intangible Assets [Abstract]

INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

Domain Name

On June 26, 2015, the Company purchased the rights to the domain “CLOUDCOMMERCE.COM”, from a private party at a purchase price of $20,000, plus transaction costs of $202, which will be kept to protect the immediate history of the Company. The total recorded cost of this domain of $20,202 has been included in other assets on the balance sheet. As of December 31, 2022, we have determined that this domain has an indefinite useful life, and as such, is not included in depreciation and amortization expense. The Company will assess this intangible asset annually for impairment, in addition to it being classified with indefinite useful life.

Trademark

On September 22, 2015, the Company purchased the trademark rights to “CLOUDCOMMERCE”, from a private party at a purchase price of $10,000. The total recorded cost of this trademark of $10,000 has been included in other assets on the balance sheet. The trademark expired in 2021 and could be renewed for an additional 10 years. As of September 30, 2015, we determined that this intangible asset has a definite useful life of 174 months, and as such, will be included in depreciation and amortization expense. For the year ended December 31, 2022 and 2021, the Company included zero and $6,380, respectively, in depreciation and amortization expense related to this trademark. During the year ended December 31, 2021, the Company did not renew the trademark and recorded the remaining intangible asset balance to depreciation and amortization. As of December 31, 2022, the balance on this intangible asset was zero.

The Company’s intangible assets consist of the following:

	December 31, 2022						December 31, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Domain name		20,202		—		20,202		20,202		—		20,202
Total	$	20,202	$	—	$	20,202	$	20,202	$	—	$	20,202

Total amortization expense charged to operations for the year ended December 31, 2022, and 2021 were zero and zero respectively. As of December 31, 2021, the balance of intangible assets is zero.