Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 148

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 10
Chunk 148
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31, 2024 and 2023 totaled $149,000 and $155,000, respectively. No disposals were made during the years ended December 31, 2024 and 2023. 

Note 5: Goodwill and Other Intangible Assets The components of intangible assets are as follows (in 000’s):   December 31, 2024   Gross CarryingAmount  AccumulatedAmortization  Net CarryingAmount Customer relationships  1,998   (1,426 )  572 Proprietary software  3,198   (1,458 )  1,740 Distribution partner relationships  153   (99 )  54 Non-compete agreement  69   (69 )  — Trademarks – definite-lived  13,350   (3,972 )  9,378 Trademarks – indefinite-lived  232   —   232 Total intangible assets $19,000  $(7,024 ) $11,976 

 F-18Table of Contents

  December 31, 2023   Gross CarryingAmount  AccumulatedAmortization  Net CarryingAmount Customer relationships  1,998   (1,158 )  840 Proprietary software  3,198   (1,015 )  2,183 Distribution partner relationships  153   (84 )  69 Non-compete agreement  69   (69 )  — Trademarks – definite-lived  27,500   (2,139 )  25,361 Trademarks – indefinite-lived  232   —   232 Total intangible assets $33,150  $(4,465 ) $28,685  The Company performed its annual assessment for impairment of intangible assets and determined an impairment charge of $14,150,000 associated with the Newswire trademarks was necessary for the year ended December 31, 2024. As a result of the Company’s rebranding to ACCESS Newswire, management determined the useful life of the Newswire trademarks to be 5 years as opposed to the original 15 years upon the initial valuation in 2022. This decrease caused a decrease in the expected cashflows the assets will generate, which