Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.24.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 – PROPERTY AND EQUIPMENT

 

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

   

December 31,

2023

    

December 31,

2022

  
Shop equipment and machinery   $ 3,565     $ 3,371  
Production tooling, jigs, fixtures     71       71  
Vehicles     177       177  
Leasehold improvements     390       390  
Office equipment     185       185  
Software     106       106  
Total property and equipment, cost     4,494       4,300  
Less: accumulated depreciation and amortization     (4,150 )     (3,762 )
Property and equipment, net   $ 344     $ 538  

 

Depreciation and amortization expense on property and equipment for the years ended December 31, 2023 and 2022 was $387 and $507 respectively. During the years ended December 31, 2023 and 2022, $374 and $489, respectively, of depreciation expense was included in cost of sales for the years then ended.