v3.23.1

Note 9 - Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 9. INTANGIBLE ASSETS In November 2019, the Company completed its business combination with Venus Ltd. and the business of Venus Ltd. became the primary business of the Company (the "Merger"), which included the addition of amortizable intangible assets, represented by the technology ($16,900) and the brand name ($1,200). The carrying values of goodwill and indefinite-life intangible assets are subject to annual impairment assessment as of the last day of each fiscal year. Between annual assessments, impairment review may also be triggered by any significant events or changes in circumstances affecting the Company’s business. Based on the analysis of the intangible assets performed by management as of December 31, 2022 and 2021, no impairment was considered necessary. Intangible assets net of accumulated amortization were as follows:
|  | At December 31, 2022 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Amount |
Customer relationships |  | $ | 1,400 |  |  | $ | (429 | ) |  | $ | 971 |
Brand |  |  | 2,500 |  |  |  | (1,066 | ) |  |  | 1,434 |
Technology |  |  | 16,900 |  |  |  | (8,919 | ) |  |  | 7,981 |
Supplier agreement |  |  | 3,000 |  |  |  | (1,467 | ) |  |  | 1,533 |
Total intangible assets |  | $ | 23,800 |  |  | $ | (11,881 | ) |  | $ | 11,919 |
|  | At December 31, 2021 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Amount |
Customer relationships |  | $ | 1,400 |  |  | $ | (336 | ) |  | $ | 1,064 |
Brand |  |  | 2,500 |  |  |  | (803 | ) |  |  | 1,697 |
Technology |  |  | 16,900 |  |  |  | (6,103 | ) |  |  | 10,797 |
Supplier agreement |  |  | 3,000 |  |  |  | (1,165 | ) |  |  | 1,835 |
Total intangible assets |  | $ | 23,800 |  |  | $ | (8,407 | ) |  | $ | 15,393 |
Amortization expense was $3,473 for the years ended December 31, 2022 and 2021. Estimated amortization expense for the next five fiscal years and all years thereafter are as follows:
Years ending December 31, |  |  |  |
2023 |  | $ | 3,473 |
2024 |  |  | 3,473 |
2025 |  |  | 3,004 |
2026 |  |  | 657 |
2027 |  |  | 657 |
Thereafter |  |  | 655 |
Total |  | $ | 11,919 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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