Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS ??? NET (Tables)

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GOODWILL AND INTANGIBLE ASSETS – NET (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS AND GOODWILL

 

             
    Year ended December 31,  
    2021     2020  
    ($ in thousands)  
Beginning gross balance   $ 49,291     $ 12,634  
Acquisitions, net of adjustments     11,895       36,657  
Ending gross balance   $ 61,186     $ 49,291  
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS

Below is a summary of intangible asset activity for the years ended December 31, 2021 and 2020:

 

    Customer     Capitalized     Other Intangible        
    Relationships     Software     Assets     Total  
  ($ in thousands)  
COST                                
Balance, January 1, 2021   $ 44,497     $ 5,760     $ 9,142     $ 59,399  
Capitalized software costs     -       7,636       -       7,636  
Other intangible assets     -       -       -       -  
Translation loss     -       (200 )     -       (200 )
Allocation from 2021 acquisitions     3,100       -       490       3,590  
Balance, December 31, 2021   $ 47,597     $ 13,196     $ 9,632     $ 70,425  
Useful lives     3-12 years       3 years       3 years          
ACCUMULATED AMORTIZATION                                
Balance, January 1, 2021   $ 26,008     $ 245     $ 3,168     $ 29,421  
Amortization expense     7,843       1,346       1,037       10,226  
Balance, December 31, 2021     33,851       1,591       4,205       39,647  
Net book value   $ 13,746     $ 11,605     $ 5,427     $ 30,778  
                                 
COST                                
Balance, January 1, 2020   $ 23,597     $ 600     $ 2,664     $ 26,861  
Capitalized software costs     -       5,163       4,800       9,963  
Other intangible assets     -       -       1,700       1,700  
Translation loss     -       (3 )     (22 )     (25 )
Allocation from 2020 acquisitions     20,900       -       -       20,900  
Balance, December 31, 2020   $ 44,497     $ 5,760     $ 9,142     $ 59,399  
Useful lives     3-12 years       3 years       3 years          
ACCUMULATED AMORTIZATION                                
Balance, January 1, 2020   $ 18,314     $ 6     $ 2,564     $ 20,884  
Amortization expense     7,694       239       604       8,537  
Balance, December 31, 2020     26,008       245       3,168       29,421  
Net book value   $ 18,489     $ 5,515     $ 5,974     $ 29,978  
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE

As of December 31, 2021, future amortization expense scheduled to be expensed is as follows:

 

Years ending      
December 31,   ($ in thousands)  
2022   $ 13,068  
2023     10,024  
2024     6,034  
2025     300  
2026     300  
Thereafter     1,052  
Total   $ 30,778