Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net (Tables)

v3.21.1
Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets, net consisted of the following:

 

    As of December 31, 2020  
                      Weighted-  
                Net     Average  
    Gross     Accumulated     Carrying     Amortization  
    Amount     Amortization     Amount     Period  
Supply chain development   $ 395,248     $ (291,937 )   $ 103,311       1.05 yrs.  
Patents and trademarks     70,435       (29,901 )     40,534       2.45 yrs.  
    $ 465,683     $ (321,838 )   $ 143,845          

 

    As of December 31, 2019  
                      Weighted-  
                Net     Average  
    Gross     Accumulated     Carrying     Amortization  
    Amount     Amortization     Amount     Period  
Supply chain development   $ 395,248     $ (193,126 )   $ 202,122       2.30 yrs.  
Patents     56,047       (14,044 )     42,003       3.10 yrs.  
    $ 451,295     $ (207,170 )   $ 244,125          
Schedule of Future Amortization Expenses

As of December 31, 2020, the intangible assets amortization expense to be recognized for each of the succeeding five years are as follows:

 

Years ending December 31,  

Future

Amortization Expense

 
2021   $ 108,924  
2022     24,601  
2023     8,568  
2024     1,752  
    $ 143,845