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Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets

Intangible Assets

3. Intangible Assets

Intangible assets as of December 31, 2023 and 2022 consisted of the following:

		Estimated useful lives						As of December 31,
		(in years)						2023				2022
Tradename			5	to	7			$	555			$	555
Patents and technological know-how			10	to	20				7,187				7,053
Proprietary software			3	to	15				2,981				2,981
Other			3	to	5				324				323
Total intangible assets, gross									11,047				10,912
Accumulated amortization									(9,358	)			(8,841	)
Total intangible assets, net								$	1,689			$	2,071

During the years ended December 31, 2023 and 2022, amortization of these intangible assets were $517 and $2,512 respectively.

A gain of $33,623 was recognized and included under other income after deducting the entire capitalized legal costs amounting to $27,374 net of amortized costs of $5,997 from the one-time legal settlement amount of $55,000, which is included in the balance sheet under legal settlement receivable as of December 31, 2022.

The estimated future amortization expense of intangible assets is as follows:

Years ending December 31,
2024		$	257
2025			196
2026			195
2027			65
2028			21
Thereafter			955
Total		$	1,689