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Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note 5. Intangible Assets

Intangible assets include Miami-Dade County Notices of Acceptances (NOA’s), which are certificates issued for approved products and required to market hurricane-resistant glass in Florida. Intangibles assets also include the intangibles acquired during the acquisition of GM&P.

	March 31, 2023
	Gross		Acc. Amort.			Net
Notice of Acceptances (NOAs), product designs and other intellectual property		10,281		(7,667	)		2,614

	December 31, 2022
	Gross		Acc. Amort.			Net
Trade Names	$	980	$	(980	)	$	-
Notice of Acceptances (NOAs), product designs and other intellectual property		9,987		(7,281	)		2,706
Non-compete Agreement		165		(165	)		-
Customer Relationships		4,140		(4,140	)		-
Total	$	15,272	$	(12,566	)	$	2,706

The weighted average amortization period is 5 years.

During the three months ended March 31, 2023, the amortization expense amounted to $322 and was included within the general and administration expenses in our unaudited Condensed Consolidated Statement of Operations. Similarly, during the three months ended March 31, 2022, the amortization expense amounted to $475.

The estimated aggregate amortization expense for each of the five succeeding years as of March 31, 2023, is as follows:

Year ending	(in thousands)
2023	$	793
2024		722
2025		416
2026		320
2027		253
Thereafter		110
Total	$	2,614