INTANGIBLE ASSET

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

INTANGIBLE ASSET

NOTE 6 - INTANGIBLE ASSET

NOTE 6 - INTANGIBLE ASSET

Intangible asset is software development cost incurred by company, it will be amortized on a straight line basis over the estimated useful life of 5 years as follow:

September 30, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount			Weighted Average Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(7,807	)	$	49,336			5
Foreign currency translation adjustment		-		-			(7,495	)
Intangible assets, net	$	57,143	$	(7,807	)	$	41,841

Amortization expense for intangible assets was $7,807 for the nine months period ended September 30, 2021.

Expected future intangible asset amortization as of September 30, 2021 was as follows:

Fiscal years:
Remaining 2021	$	3,101
2022		12,412
2023		12,412
Thereafter		12,381

NOTE 5 - INTANGIBLE ASSET

Intangible asset is software development cost incurred by company, it will be amortized on a straight line basis over the estimated useful life of 5 years as follow:

December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Intangible assets:
Software development	$	57,143	$	(11,696	)	$	45,447		5
Foreign currency translation adjustment		-		-			3,582
Intangible assets, net	$	57,143	$	(11,696	)	$	49,029

Amortization expense for intangible assets was $11,696 for the year ended December 31, 2020.

Expected future intangible asset amortization as of December 31, 2020 was as follows: 

Fiscal years:
Remaining 2020	$	49,029
2021		36,772
2022		24,515
2023		12,257