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INTANGIBLE ASSETS AND GOODWILL | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | NOTE 10 - INTANGIBLE ASSETS AND GOODWILL Costs incurred internally in researching and developing software products are charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, software costs are capitalized until the product is available for general release to customers. Judgment is required in determining when technological feasibility of a product is established. The amortization of these costs will be included in cost of revenue over the estimated life of the products. The following table summarizes identifiable intangible assets of the Company as of December 31, 2022 and September 30, 2023: SCHEDULE OF INTANGIBLE ASSETS
September 30, 2023 |  | Useful Lives (In Years) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortized: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 9-12 |  | $ | 19,264 |  |  | $ | (7,200 | ) |  | $ | 12,064 |
Trademark and tradename |  | 3-15 |  |  | 7,553 |  |  |  | (3,486 | ) |  |  | 4,067 |
Patents |  | 7-11 |  |  | 628 |  |  |  | (418 | ) |  |  | 210 |
Technology |  | 7 |  |  | 10,911 |  |  |  | (10,149 | ) |  |  | 762 |
Favorable contract interest |  | 4 |  |  | 388 |  |  |  | (388 | ) |  |  | - |
Covenant not to compete |  | 5 |  |  | 208 |  |  |  | (208 | ) |  |  | - |
Software to be sold or leased |  | 3-6 |  |  | 4,086 |  |  |  | (197 | ) |  |  | 3,889 |
|  |  |  |  | 43,038 |  |  |  | (22,046 | ) |  |  | 20,992 |
Unamortized |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer list |  |  |  |  | 104 |  |  |  | - |  |  |  | 104 |
Trademark and tradename |  |  |  |  | 61 |  |  |  | - |  |  |  | 61 |
|  |  |  |  | 165 |  |  |  | - |  |  |  | 165 |
Total |  |  |  | $ | 43,203 |  |  | $ | (22,046 | ) |  | $ | 21,157 |
December 31, 2022 |  | Useful Lives (In Years) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortized: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 9-12 |  | $ | 20,031 |  |  | $ | (6,830 | ) |  | $ | 13,201 |
Trademark and tradename |  | 3-15 |  |  | 7,589 |  |  |  | (2,990 | ) |  |  | 4,599 |
Patents |  | 7-11 |  |  | 628 |  |  |  | (351 | ) |  |  | 277 |
Technology |  | 7 |  |  | 10,667 |  |  |  | (7,866 | ) |  |  | 2,801 |
Favorable contract interest |  | 4 |  |  | 388 |  |  |  | (388 | ) |  |  | - |
Covenant not to compete |  | 5 |  |  | 208 |  |  |  | (208 | ) |  |  | - |
Software to be sold or leased |  | 3-6 |  |  | 1,865 |  |  |  | - |  |  |  | 1,865 |
|  |  |  |  | 41,376 |  |  |  | (18,633 | ) |  |  | 22,743 |
Unamortized |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer list |  |  |  |  | 104 |  |  |  | - |  |  |  | 104 |
Trademark and tradename |  |  |  |  | 61 |  |  |  | - |  |  |  | 61 |
|  |  |  |  | 165 |  |  |  | - |  |  |  | 165 |
Total |  |  |  | $ | 41,541 |  |  | $ | (18,633 | ) |  | $ | 22,908 |
Global uncertainties continue to adversely impact the broader global economy and have caused significant volatility in financial markets. If there is a lack of recovery or further global softening in certain markets, or a sustained decline in the value of the Company’s common stock, the Company may conclude that indicators of impairment exist and would then be required to calculate whether or not an impairment exists for its goodwill, other intangibles, and long-lived assets, the results of which could result in material impairment charges. The Company tests goodwill and other indefinite lives intangible assets on an annual basis in the fourth quarter and more frequently if the Company believes indicators of impairment exists. As of December 31, 2022 and September 30, 2023, the Company determined that no impairment existed to the goodwill, customer list and trademark and trade name of its acquired intangibles. At September 30, 2023, the weighted-average amortization period for the intangible assets was 8.5 years. At September 30, 2023, the weighted-average amortization periods for customer relationships, trademarks and trade names, patents, technology, and capitalized software to be sold or leased were 11.9, 9.6, 7.0, 4.3, and 3.0 years, respectively. Amortization expense for the three- and nine-month periods ended September 30, 2022 was $1,267 and $3,816, respectively, and for the three- and nine-month periods ended September 30, 2023 was $1,766 and $4,285, respectively. Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows: SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS AMORTIZATION EXPENSE
2023 (remaining) |  | $ | 1,673 |
2024 |  |  | 3,984 |
2025 |  |  | 3,857 |
2026 |  |  | 2,754 |
2027 |  |  | 2,233 |
Thereafter |  |  | 6,491 |
Finite-Lived intangible assets |  | $ | 20,992 |
There have been no changes in the carrying amount of goodwill from January 1, 2023 to September 30, 2023. For the nine-month period ended September 30, 2023, the Company did not identify any indicators of impairment.

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