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Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

8. Intangible Assets

The composition of intangible assets is as follows (in thousands):

 

 

 

 

 

 

 

As of December 31, 2022

 

 

As of December 31, 2021

 

 

As of June 30, 2021

 

 

 

Weighted

Average Life

 

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net

Carry

Amount

 

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net

Carry

Amount

 

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net

Carry

Amount

 

Patent 1

 

 

2

 

 

$

17

 

 

$

(16

)

 

$

1

 

 

$

209

 

 

$

(182

)

 

$

27

 

 

$

264

 

 

$

(190

)

 

$

74

 

Patent 2

 

 

13

 

 

 

137

 

 

 

(28

)

 

 

109

 

 

 

123

 

 

 

(18

)

 

 

105

 

 

 

138

 

 

 

(16

)

 

 

122

 

Patent 3

 

 

14

 

 

 

194

 

 

 

(39

)

 

 

155

 

 

 

192

 

 

 

(25

)

 

 

167

 

 

 

163

 

 

 

(19

)

 

 

144

 

Patent 5

 

 

19

 

 

 

89

 

 

 

(6

)

 

 

83

 

 

 

46

 

 

 

(3

)

 

 

43

 

 

 

46

 

 

 

(2

)

 

 

44

 

Patent 6

 

 

20

 

 

 

43

 

 

 

(4

)

 

 

39

 

 

 

39

 

 

 

(2

)

 

 

37

 

 

 

39

 

 

 

(1

)

 

 

38

 

Patent 7

 

 

13

 

 

 

2

 

 

 

-

 

 

 

2

 

 

 

2

 

 

 

-

 

 

 

2

 

 

 

-

 

 

 

-

 

 

 

-

 

Patent 8

 

 

19

 

 

 

13

 

 

 

-

 

 

 

13

 

 

 

3

 

 

 

-

 

 

 

3

 

 

 

3

 

 

 

-

 

 

 

3

 

Patent 10

 

 

19

 

 

 

3

 

 

 

-

 

 

 

3

 

 

 

3

 

 

 

-

 

 

 

3

 

 

 

-

 

 

 

-

 

 

 

-

 

Patent 11

 

 

19

 

 

 

6

 

 

 

-

 

 

 

6

 

 

 

6

 

 

 

-

 

 

 

6

 

 

 

-

 

 

 

-

 

 

 

-

 

Trademarks

 

Indefinite

 

 

 

54

 

 

 

-

 

 

 

54

 

 

 

50

 

 

 

-

 

 

 

50

 

 

 

47

 

 

 

-

 

 

 

47

 

Total intangible assets

 

 

 

 

 

$

558

 

 

$

(93

)

 

$

465

 

 

$

673

 

 

$

(230

)

 

$

443

 

 

$

700

 

 

$

(228

)

 

$

472

 

 

During the year-ended December 31, 2022, the Company did not identify any events or changes in circumstances that indicated the carrying value of its intangibles may not be recoverable. As such, there was no impairment of intangibles assets recognized for the year-ended December 31, 2022. During the transition period ended December 31, 2021, the Company recorded impairment charge of $42,000 in general and administrative expenses. During the year-ended June 30, 2021, the Company did not identify any events or changes in circumstances that indicated the carrying value of its intangibles may not be recoverable. As such, there was no impairment of intangibles assets recognized for the year-ended June 30, 2021. Amortization expense of intangibles included in the Consolidated Statements of Operations was $58,000, $56,000 and $109,000 for the year-ended December 31, 2022, the transition period ended December 31, 2021 and the year-ended June 30, 2021, respectively.  

The Company expects the future amortization of amortizable intangible assets held at December 31, 2022 to be (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Amortization

Expense

 

2023

 

 

 

 

 

 

 

 

 

 

 

$

34

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

33

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

33

 

2026

 

 

 

 

 

 

 

 

 

 

 

 

33

 

2027

 

 

 

 

 

 

 

 

 

 

 

 

33

 

Thereafter

 

 

 

 

 

 

 

 

 

 

 

 

245

 

Total

 

 

 

 

 

 

 

 

 

 

 

$

411