|
NOTE 3. INTANGIBLE ASSETS
Intangible assets are amortized on a straight-line basis over their estimated useful lives. The following table sets forth the components of the identifiable intangible assets acquired and their estimated useful lives as of December 31, 2025 and 2024.
| |
|
As of December 31, 2025 |
|
|
|
|
|
|
|
|
|
| |
|
Gross
amount
|
|
|
Accumulated
amortization
|
|
|
Net book
value
|
|
|
Useful life
(years)
|
|
|
Brands
|
|
$ |
42,718 |
|
|
$ |
- |
|
|
$ |
42,718 |
|
|
Indefinite
|
|
|
Customer relationships
|
|
|
9,000 |
|
|
|
(338 |
) |
|
|
8,662 |
|
|
|
10 |
|
|
Client relationships
|
|
|
80 |
|
|
|
(80 |
) |
|
|
- |
|
|
|
4 |
|
|
Formulations
|
|
|
70 |
|
|
|
(70 |
) |
|
|
- |
|
|
|
4 |
|
|
Trademarks
|
|
|
60 |
|
|
|
- |
|
|
|
60 |
|
|
Indefinite
|
|
|
Website
|
|
|
11 |
|
|
|
(11 |
) |
|
|
- |
|
|
|
3 |
|
|
Total identifiable assets
|
|
$ |
51,939 |
|
|
$ |
(499 |
) |
|
$ |
51,440 |
|
|
|
|
|
| |
|
As of December 31, 2024 |
|
|
|
|
|
|
|
|
|
| |
|
Gross
amount
|
|
|
Accumulated
amortization
|
|
|
Net book
value
|
|
|
Useful life
(years)
|
|
|
Brands
|
|
$ |
26,166 |
|
|
$ |
- |
|
|
$ |
26,166 |
|
|
Indefinite
|
|
|
Client relationships
|
|
|
80 |
|
|
|
(75 |
) |
|
|
5 |
|
|
|
4 |
|
|
Formulations
|
|
|
70 |
|
|
|
(66 |
) |
|
|
4 |
|
|
|
4 |
|
|
Trademarks
|
|
|
60 |
|
|
|
- |
|
|
|
60 |
|
|
Indefinite
|
|
|
Website
|
|
|
11 |
|
|
|
(11 |
) |
|
|
- |
|
|
|
3 |
|
|
Total identifiable assets
|
|
$ |
26,387 |
|
|
$ |
(152 |
) |
|
$ |
26,235 |
|
|
|
|
|
Amortization expense was $347 and $38 for the years ended December 31, 2025 and 2024, respectively.
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