| Schedule of Intangible Assets are Comprised of a Business-to-Business Software Platform |
Intangible assets are comprised of a business-to-business software platform that allows video game publishers and developers to offer prize-based matches of their games to their players. The Company continued to develop new apps, therefore additional costs were capitalized during the years ended December 31, 2023 and 2022. During the year ended December 31, 2023, the Company completed an impairment analysis of its intangible assets and concluded the assets were impaired. As a result, they recorded an impairment change in the amount of $3,968,332 during the year ended December 31,2023.
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Software
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Customer
Relationships
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Trade name
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Developed
Technology
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Total
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Cost
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At December 31, 2021
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12,218,908 |
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4,840,000 |
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|
750,000 |
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1,550,000 |
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19,358,908 |
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Additions
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2,496,621 |
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2,496,621 |
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Impairments
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(1,699,034 |
)
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(329,167 |
)
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(340,139 |
)
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(2,338,340 |
)
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At December 31, 2022
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14,715,529 |
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3,170,966 |
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420,833 |
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1,209,861 |
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19,517,189 |
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Additions
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19,413 |
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19,413 |
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Impairment
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(1,656,691 |
)
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(1,745,854 |
)
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(420,833 |
)
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(144,954 |
)
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(3,968,332 |
)
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At December 31, 2023
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13,078,251 |
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1,425,112 |
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1,064,907 |
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15,568,270 |
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Accumulated amortization
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At December 31, 2021
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9,582,355 |
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345,714 |
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258,333 |
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10,186,402 |
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Amortization
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1,729,326 |
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691,430 |
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516,667 |
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2,937,423 |
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At December 31, 2022
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11,311,681 |
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|
1,037,144 |
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775,000 |
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13,123,825 |
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Amortization
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1,766,570 |
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387,968 |
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289,907 |
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2,444,445 |
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At December 31, 2023
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13,078,251 |
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1,425,112 |
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1,064,907 |
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15,568,270 |
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Carrying amounts
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At December 31, 2021
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2,636,553 |
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4,494,286 |
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750,000 |
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1,291,667 |
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9,172,506 |
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At December 31, 2022
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3,403,848 |
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2,133,822 |
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420,833 |
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434,861 |
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6,393,364 |
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At December 31, 2023
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0 |
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0 |
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0 |
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0 |
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0 |
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