Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.22.2.2
Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2022
Intangible Assets  
Schedule of intangible assets

Intangible asset balances consisted of the following:

Intangible assets

    

September 30, 2022

    

December 31, 2021

Customer relationships

$

85,300

$

85,300

Trademarks

29,000

29,000

License rights(1)

17,891

17,891

Management agreements

926

926

Patents & technologies

32,900

32,900

Backlog and non-competition agreements

10,406

10,406

Total intangible assets, at cost

176,423

176,423

Less: Accumulated amortization

(58,681)

(47,653)

Total intangible assets, net

$

117,742

$

128,770

_____________

(1)License rights including indefinite-lived intangible assets, which pertain to licenses for cultivation and processing, are not subject to amortization and are tested annually for impairment. Refer to Note 2 — Summary of Significant Accounting Policies of the Company’s audited consolidated financial statements and accompanying notes as of and for the years ended December 31, 2021 and 2020 filed with the Form 10 for further information pertaining to the Company’s accounting policies for its intangible assets.
Schedule of estimated future annual amortization expense

The following table outlines the estimated future annual amortization expense related to intangible assets as of September 30, 2022:

Estimated

Years ended December 31, 

amortization

Remainder of 2022

$

3,676

2023

13,056

2024

13,056

2025

13,056

2026

12,899

Thereafter

44,268

$

100,011