Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

v3.23.1
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

6. Property and Equipment, Net

 

Property and equipment consist of the following ($ in thousands):

  

    Useful Life     December 31,     December 31,  
    (Years)     2022     2021  
Machinery and equipment     3 - 10     $ 973     $ 940  
Office furniture and equipment     3 - 10       59       50  
Leasehold improvements     6       228       228  
Construction in progress     N/A       55       -  
Property and equipment, gross             1,315       1,218  
Less: accumulated depreciation and amortization             (594 )     (495 )
Property and equipment, net           $ 721     $ 723  

 

Depreciation expense for the year ended December 31, 2022 and 2021 was $99 thousand and $99 thousand, respectively.