Intangible assets, net

12 Months Ended

Dec. 31, 2023

Seamless Group Inc [Member]

Intangible assets, net

8 Intangible assets, net

Intangible assets, net as of December 31, 2023 and 2022 consisted of the following:

	December 31,
	2023			2022
	US$			US$
Software		22,778,055			20,546,739
Developed technologies		5,853,354			5,853,354
Trade names and trademarks		7,043,640			7,043,640
Total		35,675,049			33,443,733
Less: accumulated amortization		(26,483,336	)		(23,593,955	)
Intangible assets, net		9,191,713			9,849,778

Amortization expenses of US$1,587,906 and US$1,612,937 were recorded in cost of revenue and general and administrative expenses respectively, for the year ended December 31, 2023.

Amortization expenses of US$1,984,831 and US$1,540,557 were recorded in cost of revenue and general and administrative expenses respectively, for the year ended December 31, 2022.

SEAMLESS GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

8 Intangible assets, net (Continued)

As of December 31, 2023, the estimated future amortization expense for each of the next five years and thereafter was as follows:

	Amortization
	US$
For the year ending December 31,
2024		2,948,062
2025		2,779,867
2026		2,343,051
2027		815,240
2028		305,493
Thereafter		-
Total		9,191,713