Quarterly report pursuant to Section 13 or 15(d)

Intangible Asset, Net

v3.22.4
Intangible Asset, Net
 9 Months Ended
Sep. 30, 2022
Intangible Asset, Net [Abstract]  
Intangible Asset, Net

NOTE 9 - Intangible Asset, Net

 

As of September 30, 2022 and December 31, 2021, the cost and accumulated amortization for intangible asset were as follows:

 

    September 30,
2022		     December 31,
2021		  
    (Unaudited)        
Satellite system software   $ 4,950,000     $ 4,950,000  
Accumulated amortization     (3,423,750 )     (3,052,500 )
Net   $ 1,526,250     $ 1,897,500  

 

Amortization expense was $123,750 and $123,750 for the three-month periods ended September 30, 2022 and 2021, respectively, and $371,250 and $371,250 for the nine-month periods ended September 30, 2022 and 2021, respectively.