NOTE 6 - INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6 - INTANGIBLE ASSETS

NOTE 6 - INTANGIBLE ASSETS

Patents

A Patent on the Internet-Search Mechanism (“IBSM”) has been granted in the United States, South Africa, Canada, and New Zealand. A Notice of Approval has also been issued for Australia. The patent is currently pending in the European Union and the United Kingdom.

Patents are reported at cost, less accumulated amortization and accumulated impairment loss. Costs includes expenditure that is directly attributable to the acquisition of the asset. Once a patent is providing economic benefit to the Company, amortization is provided on a straight-line basis on all patents over their expected useful lives of 20 years.

Intellectual Property

Intellectual Property capitalizes costs of the Company’s qualifying internal research and developments. Intellectual property is amortized over its useful life of 7 years and reported at cost less accumulated amortization and accumulated impairment loss.

Trademarks

The Company has several trademarks throughout the United States, Europe, and the United Kingdom.

The Company capitalizes trademark costs where the likelihood of acceptance is expected. Each trademark has been determined to have an infinite useful life and is assessed each reporting period for impairment. If there has been a reduction in the value of the trademark or if the trademark is not successfully registered, the asset will be impaired and charged to expense in the period of impairment.

As of September 30, 2022 and December 31, 2021, trademarks consisted of the following:

	September 30,			December 31,
	2022			2021
Trademarks:
NewzMineTM	$	9,636		$	9,636
Citizens Journalist™		25,200			23,193
Effects of currency translation		(5,719	)		—
	$	29,117		$	32,829

As of September 30, 2022 and December 31, 2021, intangible assets consisted of the following:

Cost	Patents			Trademarks			Intellectual Property			Capitalized Acquisition Costs		Total
At December 31, 2021	$	151,860		$	32,829		$	2,861,906		$	45,745	$	3,092,340
Additions		17,507			2,006			—			—		19,513
Effects of currency translation		(26,450	)		(5,718	)		(498,459	)		—		(530,627	)
At September 30, 2022	$	142,917		$	29,117		$	2,363,447		$	45,745	$	2,581,226
Less accumulated amortization
At December 31, 2021	$	—		$	—		$	1,463,042		$	2,288	$	1,465,330
Amortization expense		3,425			—			253,224			1,716		258,365
Effects of currency translation		—			—			(254,818	)		—		(254,818	)
At September 30, 2022	$	3,425		$	—		$	1,461,448		$	4,004	$	1,468,877
Net book value
At September 30, 2022	$	139,492		$	29,117		$	901,999		$	41,741	$	1,112,349
At December 31, 2021	$	151,860		$	32,829		$	1,398,864		$	43,457	$	1,627,010

During the nine months ended September 30, 2022 and 2021, the Company purchased $19,513 and $53,254, respectively, in intangible assets, and recorded amortization expense of $258,365 and $276,668, respectively. During the nine months ended September 30, 2022 and 2021, impairment of $0 and $0 was recorded. Based on the carrying value of definite-lived intangible assets as of September 30, 2022, we estimate our amortization expense for the next five years will be as follows:

Nine months ended September 30,	Patents		Intellectual Property		Capitalized Acquisition Costs		Total
3 months remaining 2022	$	1,744	$	32,214	$	572	$	34,530
2023		6,975		128,857		2,288		138,120
2024		6,975		128,857		2,288		138,120
2025		6,975		128,857		2,288		138,120
2026		6,975		128,857		2,288		138,120
Thereafter		109,848		354,357		32,017		496,222
	$	139,492	$	901,999	$	41,741	$	1,083,232