Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS-NET (Tables)

v3.24.3
GOODWILL AND INTANGIBLE ASSETS-NET (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill And Intangible Assets-net  
SCHEDULE OF CHANGES TO THE CARRYING AMOUNT OF GOODWILL

The following is the summary of the carrying amount of goodwill for the nine months ended September 30, 2024 and the year ended December 31, 2023:

 

    Nine Months Ended     Year Ended  
    September 30, 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 September 30, 2024 and December 31, 2023 consist of the following:

 

    September 30, 2024     December 31, 2023  
    ($ in thousands)  
Contracts and relationships acquired   $ 47,597     $ 47,597  
Capitalized software     33,801       29,379  
Non-compete agreements     1,236       1,236  
Other intangible assets     8,417       8,417  
Total intangible assets     91,051       86,629  
Less: Accumulated amortization     70,945       61,555  
Intangible assets - net   $ 20,106     $ 25,074  
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE

As of September 30, 2024, future amortization is scheduled to be expensed as follows:

 

       
Years ending December 31,   ($ in thousands)  
2024 (three months)   $ 2,818  
2025     9,855  
2026     5,472  
2027     1,211  
2028     300  
Thereafter     450  
Total   $ 20,106