Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS-NET (Tables)

v3.24.1.1.u2
GOODWILL AND INTANGIBLE ASSETS-NET (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF CHANGES TO THE CARRYING AMOUNT OF GOODWILL

The following is the summary of the carrying amount of goodwill for the three months ended March 31, 2024 and the year ended December 31, 2023:

 

    March 31, 2024     December 31, 2023  
    Three Months Ended     Year Ended  
    March 31, 2024     December 31, 2023  
    ($ in thousands)  
Beginning gross balance   $                              19,186     $                        61,186  
Impairment charges     -       (42,000 )
Ending gross balance   $ 19,186     $ 19,186  
SCHEDULE OF INTANGIBLE ASSETS

Intangible assets – net as of March 31, 2024 and December 31, 2023 consist of the following:

    March 31, 2024     December 31, 2023  
    ($ in thousands)  
Contracts and relationships acquired   $ 47,597     $ 47,597  
Capitalized software     30,979       29,379  
Non-compete agreements     1,236       1,236  
Other intangible assets     8,417       8,417  
Total intangible assets     88,229       86,629  
Less: Accumulated amortization     64,992       61,555  
Intangible assets - net   $ 23,237     $ 25,074  
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE

As of March 31, 2024, future amortization is scheduled to be expensed as follows:

 

Years ending December 31,   ($ in thousands)  
2024 (nine months)   $ 8,556  
2025     8,915  
2026     4,533  
2027     483  
2028     300  
Thereafter     450  
Total   $ 23,237