| Goodwill and Acquired Intangible Assets |
Note
4 – Goodwill and Acquired Intangible Assets
Goodwill
Changes
in goodwill for Fiscal 2021 are as follows (in thousands):
Schedule
of Changes In Goodwill
| |
|
Amount |
|
| Goodwill,
beginning of Fiscal 2020 |
|
$ |
- |
|
| Acquisition of
CPM |
|
|
901 |
|
| Goodwill, beginning
of Fiscal 2021 |
|
|
901 |
|
| Adjustment
for deferred tax liability |
|
|
362 |
|
| Acquisition of
Nebula |
|
|
4,446 |
|
| Goodwill, end
of Fiscal 2021 |
|
$ |
5,709 |
|
Intangible
Assets, Net
Intangible
assets as of December 31, 2021 and 2020 consisted of the following (in thousands):
Schedule
of Intangible Assets
| |
|
December
31, |
|
|
December
31, |
|
|
Estimated
Useful |
|
| |
|
2021 |
|
|
2020 |
|
|
Life
(in years) |
|
| Trade
names |
|
$ |
5,550 |
|
|
$ |
- |
|
|
|
15 |
|
| Proprietary
intellectual property |
|
|
4,260 |
|
|
|
- |
|
|
|
5 |
|
| Customer
relationships |
|
|
1,180 |
|
|
|
- |
|
|
|
1 |
|
| CLIA
license |
|
|
1,307 |
|
|
|
1,307 |
|
|
|
3 |
|
| Total
intangible assets, gross |
|
|
12,297 |
|
|
|
1,307 |
|
|
|
|
|
| Less:
accumulated amortization |
|
|
(1,445 |
) |
|
|
(73 |
) |
|
|
|
|
| Total
intangible assets, net |
|
$ |
10,852 |
|
|
$ |
1,234 |
|
|
|
|
|
Amortization
expense for acquired intangible assets was $1,372,000
and $73,000
during the years ended December 31, 2021 and
2020, respectively. The estimated future amortization expense of acquired intangible assets as of December 31, 2021 is as follows (in
thousands):
Schedule
Estimated Future Amortization Expense of Acquired Intangible Assets
| |
|
|
|
|
| Year
ended December 31, 2022 |
|
$ |
2,378 |
|
| Year ended December
31, 2023 |
|
|
1,585 |
|
| Year ended December
31, 2024 |
|
|
1,222 |
|
| Year ended December
31, 2025 |
|
|
1,222 |
|
| Year ended December
31, 2026 |
|
|
890 |
|
| Thereafter |
|
|
3,555 |
|
| Total |
|
$ |
10,852 |
|
|