Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS, NET (Tables)

v3.23.2
INTANGIBLE ASSETS, NET (Tables)
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets The following tables present details of the Company’s total intangible assets as of June 30, 2023 and December 31, 2022. The value of product formulation intangible asset is included in the value of Brand:
June 30, 2023
  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  745  255  2.8
Customer list 650  542  107  0.8
Trade name 4,516  1,891  2,625  5.8
Total finite-lived intangible assets $ 7,091  $ 4,103  $ 2,987 
December 31, 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  669  331  3.0
Customer list 650  478  172  1.3
Trade name 4,516  1,665  2,851  6.3
Total finite-lived intangible assets $ 7,091  $ 3,737  $ 3,354 
 
Indefinite-lived intangible assets:
Licenses $ 19,000  N/A $ 19,000 
Impairment Charge $ (19,000) N/A $ (19,000)
Total indefinite-lived intangible assets $ —  $ — 
Total intangible assets $ 7,091  $ 3,737  $ 3,354 
Schedule of Finite-Lived Intangible Assets The following tables present details of the Company’s total intangible assets as of June 30, 2023 and December 31, 2022. The value of product formulation intangible asset is included in the value of Brand:
June 30, 2023
  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  745  255  2.8
Customer list 650  542  107  0.8
Trade name 4,516  1,891  2,625  5.8
Total finite-lived intangible assets $ 7,091  $ 4,103  $ 2,987 
December 31, 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  669  331  3.0
Customer list 650  478  172  1.3
Trade name 4,516  1,665  2,851  6.3
Total finite-lived intangible assets $ 7,091  $ 3,737  $ 3,354 
 
Indefinite-lived intangible assets:
Licenses $ 19,000  N/A $ 19,000 
Impairment Charge $ (19,000) N/A $ (19,000)
Total indefinite-lived intangible assets $ —  $ — 
Total intangible assets $ 7,091  $ 3,737  $ 3,354 
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 June 30, 2023:
Estimated
Amortization
Expense
2023 $ 336 
2024 585 
2025 541 
2026 482 
2027 452 
Thereafter 591 
Total $ 2,987