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INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The changes in the carrying amount of intangible assets, net for the nine months ended September 30, 2024 were as follows:
Net balance at December 31, 2023$575 
Addition: Capitalized software costs1,832 
Deduction: Amortization expense(136)
Net balance at September 30, 2024$2,271 
The following tables set forth the components of intangible assets as of September 30, 2024 and December 31, 2023:
As of September 30, 2024
Estimated
Useful
Life
Adjusted
Carrying
Amount
Accumulated
Amortization
Net
Patents and copyrights
2-17 years
$375 $(319)$56 
Developed technology5 years400 (367)33 
Software development5 years$2,239 $(57)$2,182 
$3,014 $(743)$2,271 
The Company has capitalized $1,833 in software development costs as of September 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 development5 years$407 $— 407 
$1,182 $(607)$575 
The following summarizes amortization of intangible assets included in the accompanying statements of operations:
Three Months Ended
September 30,
For the Nine Months Ended September 30,
2024202320242023
Cost of revenues$24 $24 $71 $71 
Selling, general and administrative$$$$
Research and development$57 $— $57 $— 
$84 $27 $136 $79