Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

v3.24.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2023
Intangible Assets, Net [Abstract]  
Intangible Assets, Net

Note 8 – Intangible Assets, Net

 

Intangible assets, net, consists of the following (in thousands):

 

    December 31,     December 31,  
    2023     2022  
             
Patents   $ 1,800     $ 1,800  
Research license     375       375  
Customer relationships     4       -  
Total     2,179       2,175  
Less: accumulated amortization     (797 )     (577 )
Intangible assets, net   $ 1,382     $ 1,598  

 

The following table represents the total estimated amortization of intangible assets for the five succeeding years and thereafter as of December 31, 2023 (in thousands):

 

    Estimated
Amortization
Expense		  
       
Year ended December 31, 2024   $ 235  
Year ended December 31, 2025     234  
Year ended December 31, 2026     197  
Year ended December 31, 2027     194  
Year ended December 31, 2028     195  
Thereafter     327  
Total   $ 1,382  

 

For the year ended December 31, 2023 and 2022, amortization expense was approximately $0.4 million and $0.2 million, respectively.