v3.26.1
INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
INTANGIBLE ASSETS

NOTE 4 – INTANGIBLE ASSETS

 

Intellectual Property

 

As part of the Infintitus Pay, Inc transaction, the Company acquired intangible assets valued at $3,504, which includes $1,795 of goodwill. $322 in trademarks will not be depreciated, however, the remaining $1,387 in acquired technology will be amortized on a straight-line basis over 60 months.

 

As of June 30, 2026 and December 31, 2025, the gross value of acquired technology is $6,108 and accumulated amortization is approximately $2,536 and $1,957, respectively.

        
Intellectual Property ($ in thousands)  June 30, 2026   December 31, 2025 
Beginning balance  $4,151   $3,410 
Acquisition of intangible assets   –    1,709 
Amortization expenses   (579)   (968)
Ending balance  $3,572   $4,151 

 

Capitalized Development Cost

 

The Company capitalizes certain costs related to the development of its digital payment and banking platform.

 

As of June 30, 2026, and December 31, 2025, the gross value of capitalized development cost is $2,647 and accumulated amortization is approximately $1,577 and $1,326, respectively.

        
Capitalized Development Cost ($ in thousands)  June 30, 2026   December 31, 2025 
Beginning balance  $1,321   $1,823 
Additions   –    – 
Amortization expenses   (251)   (502)
Ending balance  $1,070   $1,321 

 

Goodwill

 

On October 31, 2025, the Company completed the acquisition of Infinitus Pay, Inc. The difference between the fair value of the purchase price and the net assets acquired is recorded as goodwill. As of June 30, 2026 and December 31, 2025, the goodwill was approximately $2,956.