Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

5. Intangible Assets

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

			September 30, 2024							December 31, 2023
	Weighted Average Amortization Period		Gross Carrying		Accumulated			Net Carrying		Gross Carrying		Accumulated			Net Carrying
	(Years)		Amount		Amortization			Amount		Amount		Amortization			Amount
Other Intangibles (amount in thousands)
Patents		8.3	$	733	$	(397	)	$	336	$	710	$	(387	)	$	323
Software		3		673		(589	)		84		667		(529	)		138
Total			$	1,406	$	(986	)	$	420	$	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)	$	13
2025		45
2026		40
2027		22
2028		13
Total	$	133

Amortization expense relating to the definite-lived intangible assets as discussed above was $22,000 and $70,000 for the three and nine months ended September 30, 2024, respectively, and $55,000 and $165,000 for the three and nine months ended September 30, 2023, respectively.