Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

5. Intangible Assets

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

			March 31, 2024							December 31, 2023
	Weighted Average		Gross					Net		Gross					Net
	Amortization Period		Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	(Years)		Amount		Amortization			Amount		Amount		Amortization			Amount
Other Intangibles (amount in thousands)
Patents		8.3	$	710	$	(390	)	$	320	$	710	$	(387	)	$	323
Software		3		673		(551	)		122		667		(529	)		138
Total			$	1,383	$	(941	)	$	442	$	1,377	$	(916	)	$	461

The intangible assets noted above are amortized on a straight-line basis over their useful lives.

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

	Amount
Year	(In thousands)

2024 (Remaining)	$	58
2025		45
2026		40
2027		22
2028		13

Amortization expenses relating to the definite-lived intangible assets as discussed above were $25,000 and $55,000 for the three months ended March 31, 2024, and 2023, respectively.