Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS AND GOODWILL (Tables)

v3.22.2
INTANGIBLE ASSETS AND GOODWILL (Tables)
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

Intangible assets consist of the following:

 

                     
    June 30, 2022    

December 31,

2021

     Useful Lives
Internal use software   $ 874     $ 600     3 years
Capitalized engineering costs     237       237     Indefinite
Trade name     4,852       340     1.5 years
Customer relationships     45,810       1,677     5.6 years
Favorable leases     250       272     1.6 years
Internally developed technology     3,207       1,148     3 years
Non-compete agreements     22,425       139     2 years
 Intangible assets, gross    

77,655

       4,413      
Less: accumulated amortization     (2,243 )     (958 )    
Intangible assets, net   $ 75,412     $ 3,455      
SCHEDULE OF GOODWILL

The following represents the change in goodwill during the six months ended June 30, 2022:

 

Beginning balance - January 1, 2022   $ 19,390  
Acquisition of Electric Blue     10,545  
Acquisition of SemaConnect     127,567  
Effect of translation adjustments     (1,410 )
Ending balance - June 30, 2022   $ 156,092