Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS AND GOODWILL (Tables)

v3.22.2
INTANGIBLE ASSETS AND GOODWILL (Tables)
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF ACQUIRED INTANGIBLE ASSETS

The Company’s acquired intangible assets at June 30, 2022 consisted of the following (in thousands):

 

    Weighted                    
    average                 Net  
    amortization           Accumulated     carrying  
    period (years)     Cost     amortization     value  
                         
Tradename and trademarks     3.00     $ 2,041     $ 113     $ 1,928  
Licenses and customer base     8.26       8,100       169       7,931  
Non-compete agreements     2.00       42       3       39  
      7.18     $ 10,183     $ 285     $ 9,898  
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE OF INTANGIBLE ASSETS

Estimated future amortization expense for the Company’s intangible assets at June 30, 2022 was as follows:

 

Year ending December 31,        
Remainder of 2022   $ 856  
2023     1,712  
2024     1,699  
2025     1,239  
2026     1,011  
Thereafter     3,381  
Total   $ 9,898  
SCHEDULE OF GOODWILL

The changes in the carrying value of the Company’s goodwill in the three months ended June 30, 2022 and 2021 were as follows (in thousands):

 

    2022     2021  
Balance at January 1,   $ 2,068     $ 2,068  
Kind Acquisition     6,011       -  
Balance at June 30,   $ 8,079     $ 2,068