Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Intangible Assets

v3.22.1
Intangible Assets
12 Months Ended
Dec. 31, 2021
Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
10. INTANGIBLE ASSETS

 

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 continues to develop new apps, therefore additional costs were capitalized during the year ended December 31, 2021.

 

    Software     Customer Relationships     Tradename     Developed Technology     Total  
Cost                              
At December 31, 2019     9,016,764      
-
     
-
     
-
      9,016,764  
Foreign currency adjustment     15,065                               15,065  
Additions     882,275      
-
     
-
     
-
      882,275  
At December 31, 2020     9,914,104      
-
     
-
     
-
      9,914,104  
Foreign currency adjustment     (47,444 )                             (47,444 )
Additions     2,352,248       4,840,000       750,000       1,550,000       9,492,248  
At December 31, 2021     12,218,908       4,840,000       750,000       1,550,000       19,358,908  
                                         
Accumulated amortization                                        
At December 31, 2019     6,876,389      
-
     
-
     
-
      6,876,389  
Amortization     1,300,299      
-
     
-
     
-
      1,300,299  
At December 31, 2020     8,176,688      
-
     
-
     
-
      8,176,688  
Amortization     1,304,991       403,333      
-
      301,389       2,009,713  
At December 31, 2021     9,481,679       403,333      
-
      301,389       10,186,401  
                                         
Carrying amounts                                        
At December 31, 2019     2,140,375      
-
     
-
     
-
      2,140,375  
At December 31, 2020     2,256,903      
-
     
-
     
-
      1,737,416  
At December 31, 2021     2,636,555       4,494,286       750,000       1,291,667       9,172,507