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GOODWILL | 6 Months Ended
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Jun. 30, 2022
Following Table Summarizes Changes In Companys Goodwill For Six Months Ended June 30 2022 |
GOODWILL | 9. GOODWILL The Company’s goodwill increased due to the acquisition of controlling interests in AVLP on June 1, 2022 and SMC on June 15, 2022. The following table summarizes the changes in the Company’s goodwill for the six months ended June 30, 2022:
|  | Goodwill |
Balance as of January 1, 2022 |  | $ | 10,090,000 |
Acquisition of AVLP |  |  | 42,775,000 |
Acquisition of SMC |  |  | 3,184,000 |
Effect of exchange rate changes |  |  | (727,000 | )
Balance as of June 30, 2022 |  | $ | 55,322,000 |

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