INTANGIBLE ASSETS, NET (Tables)
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9 Months Ended |
Sep. 30, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Schedule of Indefinite-Lived Intangible Assets |
The following tables present details of the Company’s total intangible assets as of September 30, 2022 and December 31, 2021. The value of product formulation intangible asset is included in the value of Brand:
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September 30, 2022 |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
|
Weighted- Average Useful Life (in Years) |
Finite-lived intangible assets:
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Customer contracts |
$ |
925
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$ |
925
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$ |
—
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0.0 |
Customer relationships |
1,000
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|
624
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|
376
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3.2 |
Customer list |
650
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|
444
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|
206
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1.6 |
Brand |
4,500
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1,537
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2,963
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6.6 |
Total finite-lived intangible assets |
$ |
7,075
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$ |
3,530
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$ |
3,545
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Indefinite-lived intangible assets:
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Licenses |
$ |
19,000
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N/A |
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$ |
19,000
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Licenses-impairment |
(19,000) |
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N/A |
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(19,000) |
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Total indefinite-lived intangible assets |
$ |
—
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N/A |
|
$ |
—
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Total intangible assets |
$ |
7,075
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$ |
3,530
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$ |
3,545
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December 31, 2021 |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
|
Weighted- Average Useful Life (in Years) |
Finite-lived intangible assets:
|
|
|
|
|
|
|
|
Customer contracts |
$ |
925 |
|
|
$ |
925 |
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|
$ |
— |
|
|
0.0 |
Customer relationships |
1,000 |
|
|
487 |
|
|
513 |
|
|
3.4 |
Customer list |
650 |
|
|
346 |
|
|
304 |
|
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2.3 |
Brand |
4,500 |
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|
1,200 |
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|
3,300 |
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7.3 |
Total finite-lived intangible assets |
$ |
7,075 |
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|
$ |
2,958 |
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|
$ |
4,117 |
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Indefinite-lived intangible assets:
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Licenses |
$ |
19,000 |
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N/A |
|
$ |
19,000 |
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Total intangible assets |
$ |
26,075 |
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$ |
2,958 |
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$ |
23,117 |
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|
Schedule of Finite-Lived Intangible Assets |
The following tables present details of the Company’s total intangible assets as of September 30, 2022 and December 31, 2021. The value of product formulation intangible asset is included in the value of Brand:
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|
September 30, 2022 |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
|
Weighted- Average Useful Life (in Years) |
Finite-lived intangible assets:
|
|
|
|
|
|
|
|
Customer contracts |
$ |
925
|
|
|
$ |
925
|
|
|
$ |
—
|
|
|
0.0 |
Customer relationships |
1,000
|
|
|
624
|
|
|
376
|
|
|
3.2 |
Customer list |
650
|
|
|
444
|
|
|
206
|
|
|
1.6 |
Brand |
4,500
|
|
|
1,537
|
|
|
2,963
|
|
|
6.6 |
Total finite-lived intangible assets |
$ |
7,075
|
|
|
$ |
3,530
|
|
|
$ |
3,545
|
|
|
|
|
|
|
|
|
|
|
|
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
Licenses |
$ |
19,000
|
|
|
N/A |
|
$ |
19,000
|
|
|
|
Licenses-impairment |
(19,000) |
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|
N/A |
|
(19,000) |
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|
|
Total indefinite-lived intangible assets |
$ |
—
|
|
|
N/A |
|
$ |
—
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|
|
|
|
|
|
|
|
|
|
|
Total intangible assets |
$ |
7,075
|
|
|
$ |
3,530
|
|
|
$ |
3,545
|
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|
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|
December 31, 2021 |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
|
Weighted- Average Useful Life (in Years) |
Finite-lived intangible assets:
|
|
|
|
|
|
|
|
Customer contracts |
$ |
925 |
|
|
$ |
925 |
|
|
$ |
— |
|
|
0.0 |
Customer relationships |
1,000 |
|
|
487 |
|
|
513 |
|
|
3.4 |
Customer list |
650 |
|
|
346 |
|
|
304 |
|
|
2.3 |
Brand |
4,500 |
|
|
1,200 |
|
|
3,300 |
|
|
7.3 |
Total finite-lived intangible assets |
$ |
7,075 |
|
|
$ |
2,958 |
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|
$ |
4,117 |
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Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
Licenses |
$ |
19,000 |
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|
N/A |
|
$ |
19,000 |
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|
|
|
|
|
|
|
|
|
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Total intangible assets |
$ |
26,075 |
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|
$ |
2,958 |
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|
$ |
23,117 |
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Schedule of Finite-lived Intangible Assets Amortization Expense |
The following table reflects the estimated future amortization expense for each period presented for the Company’s finite-lived intangible assets as of September 30, 2022:
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Estimated Amortization Expense |
2022 |
$ |
221 |
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2023 |
715 |
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2024 |
542 |
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2025 |
542 |
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2026 |
482 |
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Thereafter |
1,043 |
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Total |
$ |
3,545
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