INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

Note 8 INTANGIBLE ASSETS AND GOODWILL

Intangible assets as of June 30, 2024 and December 31, 2023 were as follows:

	June 30, 2024			December 31, 2023
Methylation pipeline	$	592		$	592
Epigenetic APP		2,500			-
Less: accumulated amortization		(729	)		(214	)
Intangible assets, net	$	2,363		$	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 intangible assets of $258 and $237 in the three months ended June 30, 2024 and 2023, respectively, and $515 and $1,159 in the six months ended June 30, 2024 and 2023, respectively. During the three months ended June 30, 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 10.

Goodwill

Goodwill was $2,369 and $0 as of June 30, 2024 and December 31, 2023, respectively. The goodwill at June 30, 2024 resulted from the acquisition of Myrtle as more fully discussed in Note 5.