Quarterly report pursuant to Section 13 or 15(d)

Intangible Asset, Net

v3.20.2
Intangible Asset, Net
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Asset, Net

NOTE 6 - Intangible Asset, Net

 

As of March 31, 2020 and December 31, 2019, the cost and accumulated amortization for intangible asset were as follows:

 

    March 31,
2020		     December 31,
2019		  
    (Unaudited)        
Satellite system software   $ 4,950,000     $ 4,950,000  
Accumulated amortization     (2,186,250 )     (2,062,500 )
Net   $ 2,763,750     $ 2,887,500  

 

Amortization expense was $123,750 (unaudited) and $123,750 (unaudited) for the three-month periods ended March 31, 2020 and 2019, respectively.