Intangible Assets, Net

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 9 – INTANGIBLE ASSETS, NET

Intangible assets other than goodwill consist of the following:


	Weighted average amortization period		March 31, 2015			December 31, 2014
Gross amount
Software		3 years	$	814		$	802
Lease agreements		6 years		2,137			—
Non-compete		10 years		1,346			—
Customer relationship		10 years		800			—

				5,097			802
Accumulated amortization
Software				(18	)		(6	)
Lease agreements				(12	)		—
Non-compete				(3	)		—
Customer relationship				(2	)		—

				(35	)		(6	)
Net intangible assets
Software				796			796
Lease agreement				2,125			—
Non-compete				1,343			—
Customer relationship				798			—

			$	5,062		$	796

The intangible assets of software were mainly related to the intellectual property purchased by TBO from Ole Poulsen (“Purchased IP”) pursuant to the Intellectual Property Purchase Agreement dated October 14, 2014 (“IP Agreement”), and the amortization expense of $12 was included in operating expenses for the three months ended March 31, 2015.

The intangible assets of lease agreements, non-compete and customer relationship were all related to the Company’s advertising business. The Group recorded amortization expense of $12, $3 and $2, relating to lease agreements, non-compete, and customer relationship, respectively, for the three months ended March 31, 2015, all of which were allocated to the cost of revenues and operating expenses. There was no impairment loss for the three months ended March 31, 2015.