v3.26.1
INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2026
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

The following table summarizes intangible assets as of June 30, 2026 and December 31, 2025:

 

 

 

 

 

 

(in thousands)

 

 

 

Estimated

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

Useful

Life in

Years

 

 

Gross

Carrying

Value

 

 

Accumulated Amortization

 

 

Net

Carrying

Value

 

 

Gross

Carrying

Value

 

 

Accumulated Amortization

 

 

Net

Carrying Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortizing Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual property

 

 

15

 

 

$275

 

 

$(21 )

 

$254

 

 

$275

 

 

$(12 )

 

$263

 

Pulp brand recipes

 

 

15

 

 

 

50

 

 

$(13 )

 

$37

 

 

$50

 

 

$(11 )

 

$39

 

Non-compete agreement

 

 

2

 

 

 

62

 

 

 

(62 )

 

 

-

 

 

 

62

 

 

 

(62 )

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Intangible Assets, net

 

 

 

 

 

$387

 

 

$(96 )

 

$291

 

 

$387

 

 

$(85 )

 

$302

 

 

Amortization expense for the six months ended June 30, 2026 and 2025 was $10,816 and $4,717, respectively. Annual amortization expense for each of the next five years is estimated to be $21,632 and thereafter $198,654.