| Intangible Assets |
NOTE 8 –INTANGIBLE ASSETS
The Company’s identifiable intangible assets with finite lives are being amortized over their estimated useful lives and are included within other assets in the consolidated balance sheets and were as follows:
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December 31, 2019
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Gross Carrying Amount
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Accumulated Amortization
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Impairment Loss
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Foreign Currency Translation
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Net
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Trademarks
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$
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98,000
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$
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(78,000)
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$
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-
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$
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(20,000)
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$
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-
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Customer relationships
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491,000
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(230,000)
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(154,000)
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(107,000)
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-
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Technology
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229,000
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(189,000)
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-
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(40,000)
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-
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$
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818,000
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$
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(497,000)
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$
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(154,000)
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$
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(167,000)
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$
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-
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December 31, 2018
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Gross Carrying Amount
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Accumulated Amortization
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Impairment Loss
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Foreign Currency Translation
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Net
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Trademarks
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$
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98,000
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$
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(74,000)
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$
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-
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$
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(19,000)
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$
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5,000
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Customer relationships
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491,000
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(230,000)
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(154,000)
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(107,000)
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-
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Technology
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229,000
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(178,000)
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-
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(51,000)
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-
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$
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818,000
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$
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(482,000)
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$
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(154,000)
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$
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(177,000)
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$
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5,000
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Amortization expense on these identifiable intangible assets was $5,000 and $12,000 in 2019 and 2018 respectively. The amortization expense is included in selling, general and administrative expenses.
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