Intangible Assets, Net |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, Net [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS, NET | 11. INTANGIBLE ASSETS, NET
Intangible assets, net consist of the following:
For the years ended December 31, 2024, 2023 and 2022, amortization expenses totaled $4,953, $335,538, and $119,218, respectively.
During the year ended December 31, 2023, the Company assessed and concluded that its software acquired as part of the acquisition of the West Angel would not support its ongoing business development. The Company charged impairment loss of $536,206 against software for the year ended December 31, 2023. The charge is recorded as “Impairment of intangible assets” in the consolidated statements of operations and comprehensive loss.
The following is a schedule, by years, of amortization of intangible assets as of December 31, 2024:
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