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Intangible Assets, Net
6 Months Ended
Jun. 30, 2022
Intangible Assets [Abstract]  
INTANGIBLE ASSETS, Net

NOTE 4 – INTANGIBLE ASSETS, Net

 

On November 15, 2021, the Company entered into an agreement to purchase the license software from Seatrix Software Production Single Member S.A, a related party company, for 7,000,000 restricted common shares. Under this agreement Seatrix grants to the company an exclusive and non-transferable license to use their artificial intelligence software managing shipping crews. The term of this agreement began on January 1, 2022.

 

The value of each common share was stated at $0.0430, the FMV that the shares were trading as of January 1, 2021. The total value of $301,000 will be amortized over 15 years. Intangible assets are measured initially at cost. After initial recognition, an entity usually measures an intangible asset at cost less accumulated amortization. 

 

As of June 30, 2022, the Company recorded accumulated amortization of $9,951.