Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

10. Intangible Assets, Net

Intangible assets, net as of December 31, 2021 and 2020 consisted of the following: 

	Useful Life			Accumulated			Impairment
	(in months)	Gross		Amortization			Charge			Net
As of December 31, 2021
Patent	57	$	2,700	$	(2,700	)	$	–		$	–
Customer Relationship	120		7,642		(5,193	)		(1,519	)		930
Tradename	60		1,400		(327	)		–			1,073
Technology	60		1,574		(367	)		–			1,207
Other	60-84		369		(146	)		–			223
		$	13,685	$	(8,733	)	$	(1,519	)	$	3,433
As of December 31, 2020
Patent	57	$	2,700	$	(2,700	)	$	–		$	–
Customer Relationship	120		4,625		(1,900	)		(1,607	)		1,118
Tradename	60		1,400		(47	)		–			1,353
Technology	60		1,574		(52	)		–			1,522
Other	84		168		(103	)		–			65
		$	10,467	$	(4,802	)	$	(1,607	)	$	4,058

The customer relationship was mainly contributed by the acquisition of SJ Australia in May 2015 and assets purchased from PDI in February 2021(see note 5). The customer relationship with clients of SJ Australia was the key driver of the revenue, which were expected to bring further economic benefit to the Group’s business, the balance of SJ Australia is amortized over the useful life of 10 years. The customer relationship for SJ US mainly represented the customer contracts in process, the Company could continue the execution of the contracts to generate profit by inputting material and labor cost. As of December 31, 2021, all the contracts in process purchased have either been executed or forfeited, and the cost has been fully amortized during the year ended December 31, 2021.

The tradename and technology were contributed by the acquisition of Phoenix in the year of 2020. As tradename and technology were the key driver of the revenue for Phoenix, which were expected bring further economic benefit to the Group’s business. Therefore, the tradename and technology were separately identified as intangible assets on the acquisition date. The balances are amortized over the useful life of 5 years.

No impairment loss was provided for intangible assets for the years ended December 31, 2021, 2020 and 2019. Amortization expense for intangible assets was $3,931, $369 and $278 for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, the estimated future amortization expense related to intangible assets is as follows: 

Year ending December 31,		USD
	2022	$	935
	2023		935
	2024		935
	2025		628
	2026 and thereafter		–
		$	3,433