v3.26.3
Intangible Assets
 9 Months Ended
Sep. 30, 2026
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

On September 30, 2026 and December 31, 2025, intangible assets consisted of the following:

 

    Useful life   September 30,
2026		     December 31,
2025		  
License   5 years   $ 150,000     $ 150,000  
Acquired internal-use software   5 years     748,000       748,000  
Subtotal         898,000       898,000  
Less: accumulated amortization         (314,367 )     (179,667 )
Intangible assets, net       $ 583,633     $ 718,333  

 

On February 24, 2025, the Company consummated a Software Purchase Agreement with a third party, whereby the Company purchased software and related technologies for $500,000 in cash and 200,000 shares of the Company’s common stock. These shares were valued at $248,000, or $1.24 per share, based on the quoted closing price of the Company’s common stock on the measurement date. In connection with these shares and cash payment, the Company recorded an intangible asset of $748,000.

 

For the three months ended September 30, 2026 and 2025, amortization of intangible assets amounted to $44,900 and $44,900, respectively, and for the nine months ended September 30, 2026 and 2025, amortization of intangible assets amounted to $134,700 and $109,767, respectively, which is based on an estimated useful life of 5 years and includes amortization expense related to the License Agreement.

 

Amortization of the intangible asset attributable to future periods is as follows:

 

Year ending September 30:   Amount  
2027   $ 179,600  
2028     179,600  
2029     162,100  
2030     62,333  
    $ 583,633