Intangible Assets

3 Months Ended

Mar. 31, 2024

Intangible Assets [Abstract]

INTANGIBLE ASSETS

Note 4  INTANGIBLE ASSETS

Intangible assets as of March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024			December 31, 2023
Methylation pipeline	$	592		$	592
Epigenetic APP		2,500			-
Less: accumulated amortization		(471	)		(214	)
Intangible assets, net	$	2,621		$	378

Amortization of the Company’s intangible assets is recorded on a straight-line basis within selling, general and administrative expenses over three years. The Company recognized amortization expense of $257 and $922 in the three months ended March 31, 2024 and 2023, respectively for amortization of intangible assets. During the second quarter of 2023, the Company recorded impairment losses of $2,633 for its digital insurance platform and its underwriting API and longevity API as more fully discussed in Note 4 to its consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023. 

The Company’s Epigenetic APP intangible asset was acquired from KR8 under the terms of a license agreement, which is more fully discussed in Note 6.