Quarterly report pursuant to Section 13 or 15(d)

Intangible Asset, Net

v3.19.3
Intangible Asset, Net
9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Asset, Net

NOTE 6 - Intangible Asset, Net

 

As of September 30, 2019 and December 31, 2018, the cost and accumulated amortization for intangible asset were as follows:

 

   

September 30,

2019

    December 31,
2018
 
    (Unaudited)        
Satellite system software   $ 4,950,000     $ 4,950,000  
Accumulated amortization     (1,938,750 )     (1,567,500 )
Net   $ 3,011,250     $ 3,382,500  

 

Amortization expense was $123,750 (unaudited) and $123,750 (unaudited) for the three-month periods ended September 30, 2019 and 2018 and $371,250 (unaudited) and $371,250 (unaudited) for the nine-month periods ended September 30, 2019 and 2018, respectively.