Goodwill

The changes in the carrying amount of goodwill are as follows:

 SCHEDULE OF GOODWILL INTANGIBLE ASSETS

In December 2022, after performing the quantitative impairment test in accordance with ASC 350-20-35-3C, the Company determined that goodwill was impaired by $10,183. The Company did not record any impairment charges for the year ended December 31, 2021.

In September 2021, the Company finalized the purchase price allocation of SoloFire which the Company acquired in September 2020. As a result, the Company adjusted $296 from goodwill to finite-lived intangible assets.

Intangible assets

Intangible assets, net consisted of the following:

 SCHEDULE OF INTANGIBLE ASSETS

Amortizable finite-lived intangible assets are being amortized over a period of three to five years. In December 2022, the Company recorded an impairment loss on amortizable finite-lived and indefinite-lived intangible assets of $1,340, net of accumulated amortization of $4,560 and $442, respectively. No impairment loss was recorded for the year ended December 31, 2021.

During the years ended December 31, 2022 and 2021, the Company recorded amortization expense of $1,420 and $1,496, respectively.

The expected future amortization expense for amortizable finite-lived intangible assets as of December 31, 2022, is as follows:

 SCHEDULE OF AMORTIZATION EXPENSE FINITE LIVED INTANGIBLE ASSETS