Quarterly report pursuant to Section 13 or 15(d)

National Holdings Corporation Acquisition - Intangible Assets (Tables)

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National Holdings Corporation Acquisition - Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
Intangible assets consist of trademark and customer lists acquired in the offer under the purchase method of accounting and are recorded at fair value net of accumulated amortization since the purchase date. Software license is recorded at cost. Amortization is calculated using the straight-line and accelerated methods over the following estimated useful lives:
 
 
 
Useful life
Trademark
 
10 years
Customer lists
 
6 years
Software license
 
3 years
Schedule of Finite-Lived Intangible Assets
The carrying amount related to acquired intangible assets as of June 30, 2018 are as follows ($ in thousands):
 
Intangible assets at December 31, 2017
 
$
14,340
 
Addition
 
 
45
 
Amortization expense
 
 
(1,388)
 
Intangible assets at June 30, 2018
 
$
12,997
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The future amortization of these intangible assets is as follows ($ in thousands):
 
 
 
Trademark
 
Customer
List
 
Software
License
 
Total
 
Six Months Ended December 31, 2018
 
$
151
 
$
1,261
 
$
10
 
$
1,422
 
Year Ended December 31, 2019
 
 
300
 
 
2,500
 
 
15
 
 
2,815
 
Year Ended December 31, 2020
 
 
301
 
 
2,506
 
 
15
 
 
2,822
 
Year Ended December 31, 2021
 
 
300
 
 
2,500
 
 
5
 
 
2,805
 
Year Ended December 31, 2022
 
 
300
 
 
1,726
 
 
-
 
 
2,026
 
Thereafter
 
 
1,107
 
 
—
 
 
-
 
 
1,107
 
Total
 
$
2,459
 
$
10,493
 
$
45
 
$
12,997