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Intangible Assets
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

7. Intangible Assets

 

The following provides a breakdown of identifiable intangible assets as of March 31, 2023 and December 31, 2022:

  

   March 31,   December 31, 
   2023   2022 
Product/Technology Related          
Identifiable intangible assets, gross  $31   $31 
Accumulated amortization   (29)   (26)
Product/Technology Related identifiable intangible assets, net   2    5 
Marketing Related          
Customer related intangible asset, gross   17    17 
Tradename related intangible asset, gross   7    7 
Accumulated amortization   (10)   (9)
Marketing related identifiable intangible assets, net   14    15 
Total Identifiable intangible assets, net  $16   $20 

 

In connection with the May 29, 2020 acquisition of Sports Defense, the Company identified intangible assets of $55 thousand representing technology related and customer related intangibles. These assets are being amortized on a straight-line basis over their weighted average estimated useful life of 5.7 years and amortization expense amounted to $4 thousand and $3 thousand for the three months ended March 31, 2023 and 2022, respectively.

 

 

As of March 31, 2023, the estimated annual amortization expense for each of the next five fiscal years is as follows:

  

       
($ in thousands):      
2023   $4 
2024    2 
2025    2 
2026    2 
2027    2 
Thereafter    4 
Total   $16