| Intangible assets, net |
Note 10 — Intangible assets, net
Intangible assets, net consist
of the following:
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Capitalized development costs (1) | |
$ | 13,385,407 | | |
$ | 11,995,622 | |
| Purchased software | |
| 401,485 | | |
| 384,643 | |
| Software from business combinations | |
| 38,463,677 | | |
| 43,184,301 | |
| Subtotal | |
| 52,250,569 | | |
| 55,564,566 | |
| Less: accumulated amortization | |
| (15,459,435 | ) | |
| (15,877,444 | ) |
| Impairment of software from business combinations | |
| (30,694,316 | ) | |
| (28,614,264 | ) |
| Intangible assets, net | |
$ | 6,096,818 | | |
$ | 11,072,858 | |
| (1) | The Group capitalized development costs related to its core supporting modules of the global trade applications and solutions incurred during the application development stage. |
Amortization expense for the
years ended December 31, 2025, 2024 and 2023 amounted to $2,073,173, $5,633,344 and $5,004,968, respectively.
|