Note 5 – Intangible Assets and Goodwill

Identifiable intangible assets

The Company’s identifiable intangible assets are associated with its acquisitions of HGP in 2012 and NLEX in 2014, as shown in the table below (in thousands), and are amortized using the straight-line method over their remaining estimated useful lives of one to eight years. The Company’s tradename acquired as part of the acquisition of NLEX in 2014 has an indefinite life and therefore is not amortized.

	Carrying Value					Carrying Value
	December 31,					September 30,
Amortized Intangible Assets	2017		Amortization			2018
Customer Network (HGP)	$	136	$	(17	)	$	119
Trade Name (HGP)		850		(78	)		772
Customer Relationships (NLEX)		440		(82	)		358
Website (NLEX)		14		(9	)		5
Total		1,440		(186	)		1,254

Unamortized Intangible Assets
Trade Name (NLEX)		2,437		—			2,437
Total	$	3,877	$	(186	)	$	3,691

Amortization expense during the nine months ended September 30, 2018 and 2017 was $0.2 million.

The estimated amortization expense as of September 30, 2018 during the next five fiscal years and thereafter is shown below (in thousands):

Year	Amount
2018 (remainder of year from October 1, 2018 to December 31, 2018)	$	63
2019		236
2020		236
2021		236
2022		128
Thereafter		355
Total	$	1,254

Goodwill

The Company’s goodwill is related to its asset liquidation business, and is comprised of goodwill from three acquisitions, as shown in the table below (in thousands). There were no additions to goodwill and no impairment losses to the carrying amount of goodwill during the three or nine months ended September 30, 2018 and 2017.

Acquisition	September 30, 2018		December 31, 2017
Equity Partners	$	573	$	573
HGP		2,040		2,040
NLEX		3,545		3,545
Total goodwill	$	6,158	$	6,158