Quarterly report pursuant to Section 13 or 15(d)

Intangible Asset, Net

v3.21.1
Intangible Asset, Net
3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Asset, Net

NOTE 7 - Intangible Asset, Net

 

As of March 31, 2021 and December 31, 2020, the cost and accumulated amortization for intangible asset were as follows:

 

    March 31,
2021
    December 31,
2020
 
    (Unaudited)        
Satellite system software   $ 4,950,000     $ 4,950,000  
Accumulated amortization     (2,681,250 )     (2,557,500 )
Net   $ 2,268,750     $ 2,392,500  

 

Amortization expense was $123,750 (unaudited) for each of the three-month periods ended March 31, 2021 and 2020.