Intangibles

12 Months Ended

Dec. 31, 2022

Intangibles [Abstract]

INTANGIBLES

4 INTANGIBLES

On August 26, 2021, the Company formed a subsidiary, Beyond Fintech. to acquire a product known as Beyond Wallet from a third party for gross proceeds of $250,000, together with the logo, use of name and implementation of the product into the Company’s technology. The Company owns 51% of Beyond Fintech with the other 49% owned by Frictionless. During the year ended December 31, 2022, an additional $41,320 on software to further enhance the Beyond Wallet product offering. 

During the year ended December 31, 2021, the Company paid gross proceeds of $375,000 to Frictionless for the development of the IPSIPay wallet, and during the year ended December 31, 2022, an additional $1,127,400, including warrants issued to Frictionless valued at $348,938 (note 5 and 11), was incurred by the Company to facilitate the functioning of the IPSIPay software in the cloud environment.

	December 31, 2022							December 31, 2021
	Cost		Accumulated amortization			Net Book Value		Net book value
Purchase Technology – Beyond Wallet	$	291,320	$	-		$	291,320	$	250,000
Purchased Technology - IPSIPay		1,502,400		(100,909	)		1,401,491		375,000
	$	1,793,720	$	(100,909	)	$	1,692,811	$	625,000

Amortization expense was $100,909 and $0 for the years ended December 31, 2022 and 2021, respectively.