Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 149

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 10
Chunk 149
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 resulted in the impairment charge. There was no impairment loss recorded as of and for the year ended December 31, 2023. The amortization of intangible assets is a charge to operating expenses and totaled $2,559,000 in the years ended 2024 and 2023, respectively. The future amortization of the identifiable intangible assets is as follows (in 000’s): Years Ending December 31:   2025 $2,502 2026  2,475 2027  2,347 2028  2,243 2029  2,177 Thereafter  — Total $11,744  During the year ended December 31, 2022, we acquired Newswire, which added $16,122,000 of goodwill based on our preliminary purchase price allocation.  During the year ending December 31, 2023, we concluded our purchase price allocation, which resulted in a reduction in goodwill of $571,000. Along with Newswire, the goodwill balance of $19,043,000 is related to the stock acquisitions of ACCESSWIRE in 2014 and Filing Services Canada, Inc. in 2018 and the assets of the Visual Webcasting Platform in 2019. The Company conducted its annual impairment analyses as of December 31, 2024 and 2023 and determined that no goodwill was impaired.

 F-19Table of Contents

Note 6: Credit Agreement On March 20, 2023 (the “Closing Date”), the Company entered into a $25 million Credit Agreement (the “Credit Agreement”) with Pinnacle Bank (“Pinnacle”). The Credit Agreement provides for the following: (i) term loan facility in an aggregate principal amount of $20 million (the “Term Loan”), and (ii) revolving line of credit in an up to aggregate principal amount of $5 million (the “Revolving LOC”), subject to an 85% limit based on the current eligible accounts receivable (as defined in the Credit Agreement).  Please also see Note 15 (Subsequent Events) relating to the amendments to the Credit Agreement as of February 28, 2025. Pursuant to the terms of the Credit Agreement, the per annum interest rate of the Term Loan is variable based on the one-month secured overnight financing rate (“SOFR”) plus 2.35%, subject to a minimum SOFR of