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Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Goodwill - Goodwill represents the future economic benefits derived from the Company’s unique market position, the growth attributable to the NET Power Cycle and the Company's assembled workforce, none of which are individually and separately recognized as intangible assets. Goodwill is allocated to the Company's sole reportable segment and reporting unit.

The following table presents the Company's goodwill balance as of September 30, 2023 (Successor):

						Goodwill
Goodwill at June 30, 2023 (Successor)						$	433,736
Measurement Adjustments						(9,783)
Goodwill at September 30, 2023 (Successor)						$	423,953

Current period measurement adjustments of $9,783 reflect the effects of changes to deferred tax liability estimates calculated as part of the purchase price allocation that accompanied the Business Combination (Note C).

Definite Lived Intangible Assets - The following tables present the Company's definite lived intangible assets as of September 30, 2023 (Successor) and December 31, 2022 (Predecessor) are as follows:

						September 30, 2023 (Successor)						December 31, 2022 (Predecessor)
Developed Technology, gross						$	1,345,000					$	604
Accumulated Amortization						(20,922)						(341)
Developed Technology, net						$	1,324,078					$	263

Amortization expense for the period from January 1, 2023 through June 7, 2023 (Predecessor) and the period from June 8, 2023 through September 30, 2023 (Successor) was $10 and $20,922, respectively. Amortization expense for the three month and nine month periods ended September 30, 2022 (Predecessor) was $5 and $16, respectively. Periodic amortization expense excludes goodwill, which is not amortized. The Company does not own or control any intangible

assets with indefinite useful lives except goodwill. The Company's goodwill is not tax deductible. The following table presents estimated amortization expense for future periods and future years ending December 31:

						Future Amortization Expense
2023						$	16,813
2024						67,250
2025						67,250
2026						67,250
2027						67,250
2028 and thereafter						1,038,265
Total						$	1,324,078

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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