Intangible assets

6 Months Ended

Jun. 30, 2023

Intangible assets

Intangible assets

Note 5 – Intangible Assets

The Company has capitalized the costs associated with acquiring the intellectual property of MFB at a value of $4,195,353 as of June 30, 2023, and December 31, 2022, respectively (see Note 4).

The amount capitalized consisted of a portion of the fair value of 1,000,000 shares of Convertible Preferred C stock of $4,200,000. During the six months ended June 30, 2023, no additional costs met the criteria for capitalization as an intangible asset.