iMedia Brands, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

3 Months Ended

May 01, 2021

Intangible Assets [Abstract]

Intangible Assets

(6) Intangible Assets

Intangible assets in the accompanying condensed consolidated balance sheets consisted of the following:


		May 1, 2021				January 30, 2021
	Estimated	Gross				Gross
	Useful Life	Carrying			Accumulated	Carrying		Accumulated
	(In Years)	Amount		Amortization		Amount		Amortization
Trade Names	3-15	$	1,928,000	$	(168,000)	$	1,568,000	$	(124,000)
Technology	4		3,163,000		(294,000)		772,000		(228,000)
Customer Lists	3-5		3,224,000		(257,000)		339,000		(93,000)
Vendor Exclusivity	5		192,000		(77,000)		192,000		(67,000)
Total finite-lived intangible assets		$	8,507,000	$	(796,000)	$	2,871,000	$	(512,000)

Finite-lived Intangible Assets

The finite-lived intangible assets are included in the accompanying condensed consolidated balance sheets within intangible assets, net and consist of the J.W. Hulme trade name and customer list; the Float Left developed technology, customer relationships and trade

name; a vendor exclusivity agreement; Christopher & Banks customer list and TCO technology. Amortization expense related to the finite-lived intangible assets was $104,000 for the three-month periods ended May 1, 2021 and May 2, 2020. Estimated amortization expense is $415,000 for fiscal 2021, $410,000 for fiscal 2022, $352,000 for fiscal 2023, $156,000 for fiscal 2024, and $105,000 for fiscal 2025.