Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.21.2
INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2021
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 7. - INTANGIBLE ASSETS 

Total intangible assets at September 30, 2021 and December 31, 2020 consisted of the following:

September 30, 

December 31, 

    

2021

    

2020

Intangible assets, net

 

  

 

  

Patent and trademark costs

$

5,951

$

5,667

Less: accumulated amortization

 

(3,207)

 

(2,936)

Patent and trademark costs, net

 

2,744

 

2,731

License fees

 

3,876

 

3,876

Less: accumulated amortization

 

(1,136)

 

(948)

License fees, net

 

2,740

 

2,928

MSA signatory costs

 

2,202

 

2,202

  

License fee for predicate cigarette brand

 

350

 

350

$

8,036

$

8,211

Amortization expense relating to the above intangible assets for the three and nine months ended September 30, 2021 amounted to $168 and $471 ($163 and $524 for the three and nine months ended September 30, 2020). Impairment expense for the three and nine months ended September 30, 2020 amounted to $0 and $146 (cost of approximately $448 less accumulated amortization of approximately $302), respectively, and related to patent intellectual property that would be expired prior to expected commercialization.