| Intangible Assets |
NOTE 7 –INTANGIBLE ASSETS
The Company’s identifiable intangible assets with finite lives, included in other assets, net on the condensed consolidated balance sheets, are being amortized over their estimated useful lives and were as follows:
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September 30, 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 $9,000 for the nine months ended September 30, 2019 and 2018, respectively. The amortization expense is included in selling, general and administrative expenses.
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