XML 25 R11.htm IDEA: XBRL DOCUMENT

Patents and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Note 4 – Patents and Other Intangible Assets

Patents and other intangible assets are summarized as follows:


	December 31,
(in thousands)	2022		2021
Patents
Patents pending	$	307	$	439
Issued patents		815		577
		1,122		1,016
Trademarks
Trademarks pending		6		3
Registered trademarks		95		94
		101		97
Other		8		8
		1,231		1,121
Accumulated amortization		(433)		(322)
	$	798	$	799

Future amortization expense associated with issued patents and registered trademarks as of December 31, 2022 is as follows:


(in thousands)
2023	$	147
2024		126
2025		96
2026		61
2027		39
Thereafter		8
	$	477

The amortization life for patents ranges between three to five years, with trademark lives set at ten years. The Company does not amortize patents or trademarks classified as pending.

During the years ended December 31, 2022, and 2021, the Company assessed its patent and trademark assets. The Company also evaluated its strategic approach to the pursuit and protection of its intellectual property. It is the intent of the Company to continue to pursue intellectual property protection.

If the Company identifies certain assets where the intellectual property does not directly align with its core technology, the Company will impair the intangible asset and write-off the asset as an expense. During the years ended December 31, 2022 and 2021, the Company impaired $5 thousand and $385 thousand, respectively, of assets classified as pending patent costs. During the years ended December 31, 2022 and 2021, the Company impaired $14 thousand and zero, respectively, of assets classified as issued patents. During the years ended December 31, 2022 and 2021, the Company impaired zero and $36 thousand, respectively, of assets previously classified as pending trademark costs. These non-cash expenses for patents and trademarks are reflected in the operating results as Research and Development and General and Administrative expenses, respectively.

During the year ended December 31, 2021, for certain issued patents where the protected intellectual property was not directly aligned with current products, the Company accelerated the amortization by $50 thousand to reduce the financial net carrying value of capitalized patent costs and an additional $40 thousand in accelerated amortization to align trademark net capitalized costs with trademark registration dates.