Note 5 - Goodwill |
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| Goodwill Disclosure [Text Block] |
Note 5 – Goodwill
Goodwill represents the difference between the purchase price and the estimated fair value of net assets acquired, when accounted for by the acquisition method of accounting. As of December 31, 2025 and 2024, the goodwill balance relates to a business acquisition completed in 2021 of MicaSense.
The annual impairment assessment conducted during the fourth quarter of 2025 and 2024 indicated that the fair value of the Company’s Sensor reporting unit was less than the carrying value. The impairment assessment of the Sensor reporting unit considered the lower than forecasted sales and profitability along with declining markets conditions, declining stock price and changes in our technologies. Accordingly, the Company recorded an for 2025 of $4,459,644 and in 2024 an impairment charge of $2,943,000.
As of December 31, 2025 and 2024, the change in the carrying value of goodwill for our one operating segment with goodwill balance remaining, Sensors, is as follows:
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