Annual report pursuant to Section 13 and 15(d)

Intangible Assets

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Intangible Assets
 12 Months Ended
Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
Note 9: Intangible assets
Intangible assets as of consist of the following (in $000’s):
December 30, 2023 December 31, 2022
Soin intangibles $ 19,293  $ 19,293 
Patents and domains 4  4 
Computer software —  3,563 
Total intangible assets 19,297  22,860 
Less accumulated amortization (1,451) (3,563)
Total intangible assets, net $ 17,846  $ 19,297 
Intangible amortization expense for continuing operations was approximately $1.5 million and $0, respectively, for the fiscal years ended December 30, 2023 and December 31, 2022.
Soin Intangible Assets
Effective as of December 28, 2022, the Company acquired Soin Therapeutics LLC, a Delaware limited liability company (“STLLC”), and its product, a patent-pending, novel formulation of low-dose naltrexone. The assets acquired by the Company consist of 1) three pending patents related to the methods of using low-dose Naltrexone to treat chronic pain, 2) final formula for Naltrexone, and 3) orphan drug designation as approved by the FDA. The Company reviewed the assets acquired and determined that no in-process research and development costs were acquired as part of the transaction, and, thus, all assets acquired represent intellectual property and should be capitalized. The Company will amortize the intangible assets ratably over a 10-year period. See Note 3.