INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 7 – INTANGIBLE ASSETS, NET

Intangible assets and related accumulated amortization were as follows:

Schedule of Intangible assets
	2022			2021
Distributor channel	$	11,749,874		$	-
Less: Accumulated amortization		(1,170,280	)		-
Less: Effect on exchange rate		(325,536	)
Total intangible assets, net	$	10,254,058		$	-

Amortization expense for the years ended December 31, 2022 and 2021 was $1,170,280 and 0nil, respectively, included in general administrative expenses.

The Company’s intangible assets consist of distribution channel is generally recorded in connection with acquisitions at their fair value with ZXGBVI acquisition. Intangible assets with estimable lives are amortized, generally on a straight-line basis, over their respective estimated useful lives of 5 years for distribution channel, to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

For the year ended December 31, 2022, the Company amortized $1,170,280. No impairment loss was made against the intangible assets during the year ended December 31, 2022.

The estimated amortization expense for these intangible assets in the next four years and thereafter is as follows:


2023	$	2,278,680
2024		2,278,680
2025		2,278,680
2026		2,278,680
Thereafter		1,139,338
Total	$	10,254,058

TRANS GLOBAL GROUP, INC. 10-K