|
E. |
GOODWILL AND INTANGIBLE ASSETS: |
The following table summarizes
the activity in the Company’s goodwill balance:
| Balance as of December 31, 2023 (1) |
|
$ |
— |
|
| Gander Group Acquisition (see Note F) |
|
|
2,542 |
|
| Measurement period adjustment |
|
|
(221 |
) |
| Balance as of December 31, 2024 |
|
$ |
2,321 |
|
| Balance as of March 31, 2025 |
|
$ |
2,321 |
|
| (1) |
Net of accumulated impairment
loss of $1,992 as of December 31, 2023. |
The following table presents details
of the Company’s intangible assets, estimated lives and related accumulated amortization:
| |
| Weighted- |
| As of March 31, 2025 |
|
| As of December 31, 2024 |
|
| |
| Average
Remaining
Useful Life |
| Gross |
|
|
Accumulated Amortization
|
|
|
Net Carrying Amount
|
|
| Gross |
|
|
Accumulated Amortization
|
|
|
Net Carrying Amount
|
|
| Customer lists |
| 8.4 years |
| $ |
5,175 |
|
| $ |
(1,135 |
) |
| $ |
4,040 |
|
| $ |
5,175 |
|
| $ |
(1,005 |
) |
| $ |
4,170 |
|
| Total intangible assets - customer lists, net |
| |
| $ |
5,175 |
|
| $ |
(1,135 |
) |
| $ |
4,040 |
|
| $ |
5,175 |
|
| $ |
(1,005 |
) |
| $ |
4,170 |
|
| Trade name |
| Indefinite |
| $ |
654 |
|
| $ |
— |
|
| $ |
654 |
|
| $ |
654 |
|
| $ |
— |
|
| $ |
654 |
|
| Total intangible assets - trade name |
| |
| $ |
654 |
|
| $ |
— |
|
| $ |
654 |
|
| $ |
654 |
|
| $ |
— |
|
| $ |
654 |
|
The Company recorded amortization expense
of $130 and $85 for the three months ended March 31, 2025 and 2024,
respectively.
The following table presents future
estimated amortization expense based on existing intangible assets held for use:
| Fiscal Years: |
|
|
|
| Remainder of 2025 |
|
$ |
366 |
|
| 2026 |
|
|
488 |
|
| 2027 |
|
|
488 |
|
| 2028 |
|
|
488 |
|
| 2029 |
|
|
488 |
|
| Thereafter |
|
|
1,722 |
|
| Total |
|
$ |
4,040 |
|
Actual future estimated amortization
expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or
changes.
|