INTANGIBLE ASSETS AND GOODWILL (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill by reportable business segment for the six months ended June 30, 2022, were as follows (in thousands):

Changes in the carrying amount of goodwill by reportable business segment for the six months ended June 30, 2022, were as follows (in thousands):

	VerifyMe		PeriShip Global		Total
Net book value at
January 1, 2022	$	-	$	-	$	-
2022 Activity
Acquisition		-		4,092		4,092
Net book value at
June 30, 2022	$	-	$	4,092	$	4,092

The primary assets included in this category and their respective balances were as follows (in thousands):

Intangible assets with finite lives are subject to amortization over their estimated useful lives. The primary assets included in this category and their respective balances were as follows (in thousands):

June 30, 2022	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and Trademarks	$	1,828	$	(389	)	$	1,439
Capitalized Software		206		(70	)		136
Customer Relationships		1,923		(36	)		1,887
Developed Technology		3,120		(98	)		3,022
Non-Compete Agreement		41		(8	)		33
	$	7,118	$	(601	)	$	6,517
December 31, 2021
Patents and Trademarks	$	707	$	(354	)	$	353
Capitalized Software		206		(50	)		156
Customer Relationships		-		-			-
Developed Technology		-		-			-
Non-Compete Agreement		-		-			-
	$	913	$	(404	)	$	509

The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows (in thousands):

The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows (in thousands):

Year	June 30, 2022
2022 (six months remaining)	$	458
2023		881
2024		869
2025		843
2026		833
Thereafter		2,633
	$	6,517