Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

v3.22.4
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

Intangible assets consisted of the following:

  

    December 31,      
    2022     2021     Useful Lives
Internal use software   $ 1,123     $ 600     3 years
Capitalized engineering costs     237       237     Indefinite
Trade name and patents     2,759       340     1.5 years
Customer relationships     21,398       1,677     5.6 years
Favorable leases     257       272     1.6 years
Internally developed technology     5,031       1,148     3 years
Non-compete agreements     2,253       139     2 years
      33,058       4,413      
Less: accumulated amortization     (6,476 )     (958 )    
Intangible assets, net   $ 26,582     $ 3,455      
SCHEDULE OF CHANGES IN BALANCE OF INTANGIBLE ASSETS AND GOODWILL

 

                                                                         
    Internal Use Software     Capitalized Engineering Costs     Trade Name and Patents     Customer Relationships     Favorable Leases     Internally Developed Technology     Non-Compete Agreements     Accumulated Amortization     Total  
Balance as of January 1, 2021   $ 184     $ -     $ -     $ -     $ -     $ -     $ -     $ (138 )   $ 46  
Additions     416       237       340       1,677       272       1,148       139       -       4,229  
Amortization expense     -       -       -       -       -       -       -       (820 )     (820 )
Balance as of December 31, 2021     600       237       340       1,677       272       1,148       139       (958 )     3,455  
Additions     523       -       2,331       19,911       -       4,122       2,233       -       29,120  
Foreign currency translation     -       -       88       (190 )     (15 )     (239 )     (119 )     -       (475 )
Amortization expense     -       -       -       -       -       -       -       (5,518 )     (5,518 )
Balance as of December 31, 2022   $ 1,123     $ 237     $ 2,759     $ 21,398     $ 257     $ 5,031     $ 2,253     $ (6,476 )   $ 26,582  
Weighted average remaining amortization period at December 31, 2022 (in years)     1.6       0.0       1.3       4.6       0.0       2.3       1.4                  
SCHEDULE OF CHANGES IN ACCUMULATED AMORTIZATION

                                                                 
    Internal Use Software     Capitalized Engineering Costs     Trade Name and Patents     Customer Relationships     Favorable Leases     Internally Developed Technology     Non-Compete Agreements     Accumulated Amortization  
Balance as of January 1, 2021   $ 138     $ -     $ -     $ -     $ -     $ -     $ -     $ 138  
Amortization expense     69       -       155       198       109       245       44       820  
Balance as of December 31, 2021     207       -       155       198       109       245       44       958  
Amortization expense     294       -       896       2,547       154       1,254       809       5,954  
Foreign currency translation     -       -       (65 )     (250 )     (6 )     (100 )     (15 )     (436 )
Balance as of December 31, 2022   $ 501     $ -     $ 986     $ 2,495     $ 257     $ 1,399     $ 838     $ 6,476  
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE

The estimated future amortization expense is as follows:

  

         
For the Years Ending December 31,   Total  
2023   $ 8,081  
2024     6,422  
2025     4,652  
2026     4,036  
2027     2,050  
Thereafter     1,341  
 Finite-lived intangible assets, net   $ 26,582