| INTANGIBLE ASSETS, NET |
NOTE 4. – INTANGIBLE ASSETS, NET Intangible Assets, Net Our intangible assets, net at September 30, 2025 and December 31, 2024 consisted of the following: | | | | | | | | | | | | | | | Gross | | Accumulated | | | | | | Net Carrying | September 30, 2025 | | Carrying Amount | | Amortization | | Impairment | | | Amount | Definite-lived: | | | | | | | | | | | | | Patent | | $ | 2,981 | | $ | (2,436) | | $ | (111) | | $ | 434 | License fees | | | 5,306 | | | (2,219) | | | — | | | 3,087 | Total amortizing intangible assets | | $ | 8,287 | | $ | (4,655) | | $ | (111) | | $ | 3,521 | Indefinite-lived: | | | | | | | | | | | | | Trademarks | | | | | | | | | | | $ | 137 | MSA signatory costs | | | | | | | | | | | | 2,202 | License fee for predicate cigarette brand | | | | | | | | | | | | 350 | Total indefinite-lived intangible assets | | | | | | | | | | | $ | 2,689 | Total intangible assets, net | | | | | | | | | | | $ | 6,210 |
| | | | | | | | | | | | | | | Gross | | Accumulated | | | | | Net Carrying | December 31, 2024 | | Carrying Amount | | Amortization | | Impairment | | Amount | Definite-lived: | | | | | | | | | | | | | Patent | | $ | 2,948 | | $ | (2,268) | | $ | (68) | | $ | 612 | License fees | | | 4,415 | | | (1,990) | | | — | | | 2,425 | Total amortizing intangible assets | | $ | 7,363 | | $ | (4,258) | | $ | (68) | | $ | 3,037 | Indefinite-lived: | | | | | | | | | | | | | Trademarks | | | | | | | | | | | $ | 135 | MSA signatory costs | | | | | | | | | | | | 2,202 | License fee for predicate cigarette brand | | | | | | | | | | | | 350 | Total indefinite-lived intangible assets | | | | | | | | | | | $ | 2,687 | Total intangible assets, net | | | | | | | | | | | $ | 5,724 |
Aggregate intangible asset amortization expense comprises of the following: | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Cost of goods sold | | $ | 2 | | $ | 3 | | $ | 8 | | $ | 8 | Research and development | | | 109 | | | 103 | | | 320 | | | 305 | Total amortization expense | | $ | 111 | | $ | 106 | | $ | 328 | | $ | 313 |
Estimated future intangible asset amortization expense based on the carrying value as of September 30, 2025 is as follows: | | | | | | | | | | | | | | | | | | | | | Remainder for 2025 | | 2026 | | 2027 | | 2028 | | 2029 | | Thereafter | Amortization expense | | $ | 101 | | $ | 384 | | $ | 379 | | $ | 343 | | $ | 255 | | $ | 2,059 |
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