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Intangible Assets

6 Months Ended

Jun. 30, 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.

	June 30, 2023
	Gross		Acc. Amort.			Net
Notice of Acceptances (NOAs), product designs and other intellectual property		10,531		(8,006	)		2,525

	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 4.9 years.

During the three and six months ended June 30, 2023, the amortization expense amounted to $293 and $615, respectively, and was included within the general and administration expenses in our unaudited Condensed Consolidated Statement of Operations. Similarly, during the three and six months ended June 30, 2022, the amortization expense amounted to $314 and $789, respectively.

The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2023 is as follows:

Year ending	(in thousands)
2023	$	530
2024		775
2025		447
2026		350
2027		283
Thereafter		140
Total	$	2,525