Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 4. OTHER INTANGIBLE ASSETS

Finite life intangible assets at December 31, 2022 and 2021 are as follows:

	Customer Relationships		Trade Names		Patents		Total
Balance at January 1, 2021	$	507	$	589	$	77	$	1,173
Additions		-		-		64		64
Amortization		147		29		-		176
Abandonment Loss		-		560		-		560
Balance at December 31, 2021	$	360	$	-	$	141	$	501
Additions		-		-		71		71
Amortization		144		-		6		150
Balance at December 31, 2022	$	216	$	-	$	206	$	422

In 2021, we determined the fair value of the Devicix tradename was more likely than not at $0 based on management’s best estimate and recognized a $560 loss on abandonment of intangible assets.

Intangible assets are amortized on a straight-line basis over their estimated useful lives. The weighted average remaining amortization period of our intangible assets is 1.9 years. Of the patents value at December 31, 2022, $95 are being amortized and $111 are in process and a patent has not yet been received.

Amortization expense of finite life intangible assets was $150 and $176 for the years ended December 31, 2022 and 2021, respectively.

Estimated future annual amortization expense (except projects in process) related to these assets is approximately as follows:

Year	Amount
2023	$	159
2024		87
2025		14
2026		14
2027		14
Thereafter		23
Total	$	311