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GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2022

NOTE 5 — GOODWILL AND INTANGIBLE ASSETS

The following table summarizes the Company’s intangible assets as of December 31, 2022 (in thousands):


	Amortization	Gross Asset		Accumulated		Net Book
	Period	Cost		Amortization		Value
Customer relationships	11 years	$	970	$	302	$	668
Patents	20 years		70		12		58
Trademark	20 years		78		13		65
		$	1,118	$	327	$	791

The following table summarizes the Company’s intangible assets as of June 30, 2022 (in thousands):


	Amortization	Gross Asset		Accumulated		Net Book
	Period	Cost		Amortization		Value
Customer relationships	11 years	$	970	$	257	$	713
Patents	20 years		70		10		60
Trademark	20 years		78		12		66
		$	1,118	$	279	$	839

Amortization expense was $24,000 and $24,000 for the three months ended December 31, 2022 and 2021, respectively, and was $48,000 and $48,000 for the six months ended December 31, 2022 and 2021, respectively, and is included in general and administrative expense.

NOTE 5 — GOODWILL AND INTANGIBLE ASSETS (continued)

Estimated amortization expense related to intangible assets subject to amortization at December 31, 2022 in each of the five years subsequent to December 31, 2022, and thereafter is as follows (amounts in thousands):


2023	$	48
2024		96
2025		96
2026		96
2027		96
Thereafter		359
Total	$	791

Goodwill at December 31, 2022 and June 30, 2022 was $287,000.