Intangible Assets

6 Months Ended

Jun. 30, 2023

Intangible Assets [Abstract]

INTANGIBLE ASSETS

5. INTANGIBLE ASSETS 

Domain Name

On June 26, 2015, the Company purchased the rights to the domain “CLOUDCOMMERCE.COM”, from a private party at a purchase price of $20,000, plus transaction costs of $202. We use the domain as the main landing page for the Company.  The total recorded cost of this domain of $20,202 has been included in other assets on the balance sheet.  As of June 30, 2023, we determined that this domain has an indefinite useful life, and as such, is not included in depreciation and amortization expense.  The Company will assess this intangible asset annually for impairment, in addition to it being classified with indefinite useful life.

The Company will assess this intangible asset for impairment, if an event occurs that may affect the fair value, or at least annually.

The Company’s intangible assets consist of the following: 

			June 30, 2023						December 31, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Domain name		20,202		-		20,202		20,202		-		20,202
Total	$	20,202	$	-	$	20,202	$	20,202	$	-	$	20,202

Total amortization expense charged to operations for the six months ended June 30, 2023, and 2022, were zero and zero, respectively.