Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

Intangible Assets, Net [Abstract]

Intangible assets, net

Note 9 — Intangible assets, net

Intangible assets, net consist of the following:

	As of December 31,
	2024			2023
Capitalized development costs (1)	$	11,995,622		$	11,416,518
Purchased software		384,643			395,446
Software from business combinations		43,184,301			36,101,237
Subtotal		55,564,566			47,913,201
Less: accumulated amortization		(15,877,444	)		(10,614,005	)
Impairment		(28,614,264	)		(2,266,746	)
Intangible assets, net	$	11,072,858		$	35,032,450

(1) The Group capitalized development costs related to its core supporting modules of the global trade applications and solutions incurred during the application development stage.

Amortization expense for the years ended December 31, 2024, 2023 and 2022 amounted to $5,633,344, $5,004,968 and $1,803,853, respectively.