Note 7 - Intangible Assets, Net

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

During the three months ended March 31, 2023, the Company recorded $0.2 million of customer relationships in connection with its acquisition of Amerigen 7 (See Note 4).

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

For the three months ended March 31, 2023 and 2022, amortization expense was approximately $54,000 and $53,000, respectively.