v3.25.1
INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

 

Intellectual Property

 

The Company has two patent portfolios. As of March 31, 2025 and December 31, 2024, the gross value of patents is $407 thousand and accumulated amortization is approximately $401 thousand and $368 thousand, respectively.

 

As of March 31, 2025 and December 31, 2024, the gross value of acquired technology is $4,400 thousand and accumulated amortization is approximately $1,250 thousand and $1,029 thousand, respectively.

        
Intellectual Property  March 31, 2025   December 31, 2024 
Beginning balance  $3,410   $4,428 
Amortization expenses   (254)   (1,018)
Ending balance  $3,156   $3,410 

 

Capitalized Development Cost

 

The Company capitalizes certain costs related to the development of its digital payment and banking platform.

 

As of March 31, 2025, and December 31, 2024, the gross value of capitalized development cost is $2,647 thousand and accumulated amortization is approximately $949 thousand and $824 thousand, respectively.

        
Capitalized Development Cost  March 31, 2025   December 31, 2024 
Beginning balance  $1,823   $1,147 
Additions   –    1,081 
Amortization expenses   (125)   (405)
Ending balance  $1,698   $1,823 

 

Goodwill

 

On October 26, 2023, the Company completed the Purchase of Alliance Partners. The difference between the fair value of the purchase price and the net assets acquired is recorded as goodwill. As of March 31, 2025, the Company recorded goodwill of approximately $1,161 thousand.

 

See Note 1 - Purchase of Alliance Partners, LLC.