Intangible Assets |
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| Intangible Assets | Note 10: Intangible Assets
Intangible assets as of June 27, 2026 and December 27, 2025 consist of the following (in $000’s):
Intangible amortization expense was $1.6 million and $0.8 million for the 13 weeks ended June 27, 2026 and June 28, 2025, respectively, and $1.8 million and $1.6 million for the 26 weeks ended June 27, 2026 and June 28, 2025, respectively.
Block Street
Effective on April 20, 2026, the Company entered into an agreement to purchase all of the outstanding capital stock of Block Street which operates a platform designed to support token issuances aligned with applicable regulatory frameworks and the tokenization of real-world assets. Block Street’s capabilities have not yet been deployed commercially and Block Street has not generated revenues to date. The Company will amortize the intangible assets over a ten (10)-year period when the assets are placed in service (see Note 3).
Mswipe
Effective on May 9, 2025, the Company and our indirect, wholly-owned second tier Canadian subsidiary entered into an agreement to purchase all of the outstanding capital stock of an entity that, through its subsidiaries, offers multi-currency, fiat- and crypto-enabled payment card services (see Note 3).
Qoden Intangible Assets
On November 8, 2024, the Company acquired the Qodex Cryptocurrency Exchange Software platform and other related assets from Qoden Technologies, LLC, a provider of technology solutions for the blockchain industry. The Company will amortize the intangible assets over a two (2)-year period (see Note 3).
ALT5 Subsidiary Intangible Assets
On May 14, 2024, the Company acquired its ALT5 Subsidiary, which is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. As part of the acquisition, the Company acquired trade names, customer relationships, and developed technology, which will be amortized over a period of seven years, 10 years, and five years, respectively (see Note 3).
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