Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

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

NOTE 2 – PROPERTY AND EQUIPMENT

 

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

 

   

December 31,

2022

    

December 31,

2021

  
Shop equipment and machinery   $ 3,371     $ 3,350  
Production tooling, jigs, fixtures     71       71  
Vehicles     177       180  
Leasehold improvements     390       390  
Office equipment     185       181  
Software     106       106  
Total property and equipment, cost     4,300       4,278  
Less: accumulated depreciation and amortization     (3,762 )     (3,259 )
Property and equipment, net   $ 538     $ 1,019  

 

Depreciation and amortization expense on property and equipment for the years ended December 31, 2022 and 2021 was $507 and $549 respectively. During the years ended December 31, 2022 and 2021, $489 and $530, respectively, of depreciation expense was included in cost of sales for the years then ended.