Note 5 - Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

5. INTANGIBLE ASSETS AND GOODWILL

In 2021, in accordance with ASC 350, the Company performed a qualitative analysis, which determined that it was not more likely than not that the fair value of the reporting units or significant inputs used to determine the fair value of the intangible assets was less than the carrying value of the goodwill and intangible assets recorded on the Company’s books as of December 31, 2021. As a result, no impairment was recorded and a quantitative analysis was not performed. In performing the assessment, the Company used current market capitalization, discounted future cash flows, internal forecasts and other factors as the best evidence of fair value. These assumptions represent Level 3 inputs.

	Intangible Assets			Goodwill
Balance at January 1, 2020, net	$	1,467,000		$	781,000
Amortization and foreign exchange		(109,000	)		--
Balance at December 31, 2020, net	$	1,358,000		$	781,000
Amortization and foreign exchange		(40,000	)		--
Balance at December 31, 2021, net	$	1,318,000		$	781,000

Intangible assets consist of the following based on the Company’s determination of the fair value of identifiable assets acquired:

	As of December 31, 2021
	Weighted Average Amortization Period (in Years)		Gross Carrying Amount		Accumulated Amortization		Impairment		Net
Trade names		3	$	52,000	$	52,000	$	--	$	--
Developed technology		10		318,000		143,000		--		175,000
Licenses		7		418,000		418,000		--		--
Device registration		7		78,000		78,000		--		--
Customer relationships		3		425,000		425,000		--		--
Amortizable intangible assets			$	1,291,000	$	1,116,000		--	$	175,000
In process technology				1,143,000		--		--		1,143,000
Total			$	2,434,000	$	1,116,000	$	--	$	1,318,000

	As of December 31, 2020
	Weighted Average Amortization Period (in Years)		Gross Carrying Amount		Accumulated Amortization		Impairment		Net
Trade names		3	$	52,000	$	52,000	$	--	$	--
Developed technology		10		318,000		111,000		--		207,000
Licenses		7		432,000		424,000		--		8,000
Device registration		7		66,000		66,000		--		--
Customer relationships		3		442,000		442,000		--		--
Amortizable intangible assets				1,310,000		1,095,000		--		215,000
In process technology				1,143,000		--		--		1,143,000
Total			$	2,453,000	$	1,095,000	$	--	$	1,358,000

The change in the gross carrying amount is due to foreign currency exchange fluctuations. In process technology has not yet been introduced to the market place and is therefore not yet subject to amortization. The Company’s estimated future amortization expense for amortizable intangible assets in subsequent years, are as follows:

Year Ended December 31,
2022		32,000
2023		32,000
2024		32,000
2025		32,000
Thereafter		47,000
Total	$	175,000