v3.22.2.2
INTANGIBLE ASSETS, NET
6 Months Ended
Jun. 30, 2022
INTANGIBLE ASSETS, NET  
INTANGIBLE ASSETS, NET

9.    INTANGIBLE ASSETS, NET

Intangible assets consist of the following:

    

As of

    

As of

December 31, 

June 30, 

2021

2022

US$

US$

Cost:

 

  

 

  

Computer software

 

3,988

 

3,470

License agreement

 

22,252

 

22,252

Internet domain name

 

150

 

150

Brand name

 

71,292

 

71,292

Strategic contract

18,199

10,010

Unpatented technology

3,633

 

115,881

 

110,807

Accumulated amortization:

 

 

Computer software

 

(3,317)

 

(2,854)

License agreement

 

(5,470)

 

(5,470)

Internet domain name

 

(10)

 

(18)

Brand name

 

(7,279)

 

(10,207)

Strategic contract

(909)

(1,561)

 

(16,985)

 

(20,110)

Impairment *:

Computer software

(581)

(525)

License agreement

(16,782)

(16,782)

Brand name

(9,602)

(9,602)

(26,965)

(26,909)

Intangible assets, net

 

71,931

 

63,788

* The impairment of US$26,909 was related to the acquired intangible assets of the Multi Group that were recognized during the year ended December 31, 2019. The additional impairment of US$56 was related to the intangible assets of computer software of Loto Interactive during the year ended December 31, 2021. The intangible assets of Loto Interactive are presented as held for sale as of June 30, 2022. See Note 14 for detailed discussion.

Amortization expenses from continuing operations for the six months ended June 30, 2021 and 2022 were approximately US$1,341 and US$4,776, respectively. Amortization expenses from discontinued operations for the six months ended June 30, 2021 and 2022 were approximately US$27 and nil, respectively. Annual estimated amortization expense for each of the five succeeding years is as follows:

    

US$

2022 remaining

 

4,267

2023

 

9,133

2024

 

9,096

2025

 

8,782

2026

7,313

2027 and thereafter

 

25,197

Total

 

63,788