Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.22.2.2
Property and Equipment, Net
 9 Months Ended
Sep. 30, 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     September 30,     December 31,  
    (Years)     2022     2021  
Machinery and equipment     3 - 10     $ 972     $ 940  
Office furniture and equipment     3 - 10       59       50  
Leasehold improvements     6       228       228  
Construction in progress     -       48       -  
Property and equipment, gross             1,307       1,218  
Less: accumulated depreciation and amortization             (570 )     (495 )
Property and equipment, net           $ 737     $ 723  

 

Depreciation expense for the nine months ended September 30, 2022 and 2021 was $74 thousand and $75 thousand, respectively.