5. Intangible Assets

The following table summarizes information relating to the Company’s definite-lived intangible assets:

Schedule of Definite Lived Intangible Assets 

The intangible assets noted above are amortized on a straight-line basis over their useful lives with the exception of customer relationships which are being amortized using an accelerated method.

The following table summarizes the expected amortization over the next five years for our definite-lived intangible assets:

 Schedule of Finite Lived Intangible Assets, Future Amortization Expense

Amortization expense relating to the definite-lived intangible assets as discussed above was $55,000 and $165,000 for the three and nine months ended September 30, 2023, respectively, and $65,000 and $176,000 for the three and nine months ended September 30, 2022, respectively.