Note 9 - Patents and Trademarks, Net

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

9. Patents and Trademarks, net

Patents and trademarks consisted of the following:

	June 30,			December 31,
	2024			2023
Purchased and licensed patent rights	$	566		$	566
Internally developed patents		1,686			1,686
Trademarks		148			148
Total intangible assets		2,400			2,400
Accumulated amortization		(2,357	)		(2,348	)
Total intangible assets, net	$	43		$	52

Purchased patent rights represent the exclusive right to commercialize the bulk amorphous alloy and other amorphous alloy technology acquired from California Institute of Technology (“Caltech”), through a license agreement with Caltech and other institutions. All fees and other amounts payable by the Company for these rights and licenses have been paid or accrued in full, and no further royalties, license fees, or other amounts will be payable in the future under the license agreement. In addition to the purchased and licensed patents, the Company has internally developed patents. Internally developed patents include legal and registration costs incurred to obtain the respective patents. The Company currently holds various patents and numerous pending patent applications in the United States, as well as numerous foreign counterparts to these patents outside of the United States.

The Company amortizes capitalized patents and trademarks over an average of 10-to-17-year periods. Amortization expense for patents and trademarks was $5 and $9 for the three and six months ended  June 30, 2024, respectively, and $6 and $12 for the three and six months ended  June 30, 2023, respectively.