XML 25 R13.htm IDEA: XBRL DOCUMENT v3.22.4
Intangible Assets
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Intangible Assets [Abstract]    
INTANGIBLE ASSETS

NOTE 5 –INTANGIBLE ASSETS

 

As of September 30, 2022 and December 31, 2021, intangible assets consisted of the following:

 

   Useful life  September 30,
2022
   December 31,
2021
 
            
Other intangible assets  3 - 5 years   843,104    843,703 
Less: accumulated amortization      (831,245)   (812,199)
      $11,859   $31,504 

 

Annual amortization of intangible assets attributable to future periods is as follows:

 

Year ending September 30:   Amount 
2022    11,859 
2023    
-
 
    $11,859 

 

For the three months ended September 30, 2022 and 2021, amortization of intangible assets amounted to $4,475 and $24,537, respectively.

 

For the nine months ended September 30, 2022 and 2021, amortization of intangible assets amounted to $19,599 and $73,612, respectively.

NOTE 5 –  INTANGIBLE ASSETS

 

At December 31, 2021 and 2020, intangible assets consisted of the following :

 

   Useful life  December 31,
2021
   December 31,
2020
 
            
Apps and virtual technology  3 - 5 years  $843,703   $844,246 
Goodwill  infinite   
-
    27,323 
Less: accumulated amortization      (812,199)   (714,832)
              
      $31,504   $156,737 

 

Amortization of intangible assets attributable to the next two years is as follows:

   

Year ending December 31:   Amount  
2022   $ 24,043  
2023     7,461  
    $ 31,504  

Amortization expense for the years ended December 31, 2021 and 2020 amounted to $98,149 and $202,992, respectively. Impairment loss for the years ended December 31, 2021 and 2020 amounted to $27,323 and $750,000 respectively.