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INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Intangible Assets, Net
The changes in the carrying amount of intangible assets, net for the six months ended June 30, 2024 were as follows:
Net balance at December 31, 2023$575 
Addition: Capitalized software costs1,389 
Deduction: Amortization expense(52)
Net balance at June 30, 2024$1,912 
Schedule of Components of Intangible Assets
The following tables set forth the components of intangible assets as of June 30, 2024 and December 31, 2023:
As of June 30, 2024
Estimated
Useful
Life
Adjusted
Carrying
Amount
Accumulated
Amortization
Net
Patents and copyrights
2-17 years
$375 $(313)$62 
Developed technology5 years400 (347)53 
Software development— $1,797 $— $1,797 
$2,572 $(660)$1,912 
The Company has capitalized $1,797 in software development costs as of June 30, 2024. The projects are still in development and not yet ready for their intended use, and therefore no estimated useful life has been determined and these costs are not being amortized as of June 30, 2024.
As of December 31, 2023
Estimated
Useful
Life
Adjusted
Carrying
Amount
Accumulated
Amortization
Net
Patents and copyrights
2-17 years
$375 $(300)$75 
Developed technology5 years400 (307)93 
Software development— $407 $— 407 
$1,182 $(607)$575 
Schedule of Amortization Expense of Intangible Assets
The following summarizes amortization of intangible assets included in the accompanying statements of operations:
Three Months Ended
June 30,
For the Six Months Ended June 30,
2024202320242023
Cost of revenues$23 $23 $47 $47 
General and administrative
$25 $26 $52 $53