|3 Months Ended|
Mar. 31, 2023
7. Intangible Assets
Intangible asset balances consisted of the following:
(1)License rights primarily consists of 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 — Basis of Presentation and 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, 2022 and 2021 filed on Form 10-K for further information pertaining to the Company’s accounting policies for its intangible assets.
Amortization expense for the three months ended March 31, 2023 and 2022, was $3,264 and $3,676, respectively. This amortization expense is included in depreciation and amortization in the condensed consolidated statements of operations and comprehensive loss.
The following table outlines the estimated future annual amortization expense related to intangible assets as of March 31, 2023:
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef