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PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET    
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

NOTE 5 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

 

Property, equipment and leasehold improvements (net) as of September 30, 2022 and December 31, 2021 consisted of the following:

 

 

 

 

(in thousands)

 

 

 

 

September 30,

 

 

December 31,

 

 

 

2022

 

2021

 

 

 

 

$-

 

 

$-

 

Furniture and equipment

 

 

 

903

 

 

 

667

 

Computer hardware

 

 

 

4

 

 

 

4

 

Land

 

 

 

1,953

 

 

 

-

 

Leasehold improvements

 

 

 

3,776

 

 

 

3,031

 

Vehicles

 

 

 

304

 

 

 

131

 

Construction in progress

 

 

 

4

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

 

6,944

 

 

 

3,837

 

Less accumulated depreciation

 

 

 

(1,861)

 

 

(1,264)

Property, equipment and leasehold improvements, net

 

 

$5,083

 

$

2,573

 

  

Depreciation expense related to property, equipment and leasehold improvements for the nine months ended September 30, 2022 and 2021 was $597,113 and $545,926, respectively.

NOTE 5 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

 

Property, equipment and leasehold improvements (net) as of December 31, 2020 and December 31, 2021 consisted of the following:

 

 

 

(in thousands)

 

 

 

December 31,

2020

 

 

December 31,

2021

 

 

 

 

 

 

 

 

Furniture and equipment

 

 

538

 

 

 

667

 

Computer hardware

 

 

4

 

 

 

4

 

Leasehold improvements

 

 

3,009

 

 

 

3,031

 

Vehicles

 

 

28

 

 

 

131

 

Construction in progress

 

 

4

 

 

 

4

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

3,583

 

 

 

3,837

 

Less accumulated depreciation

 

 

(530)

 

 

(1,264)

Property, equipment and leasehold improvements, net

 

$3,053

 

 

$2,573

 

 

Depreciation expense related to property, equipment and leasehold improvements for the three months ended March 31, 2020 (Predecessor) was $134,874. Depreciation expense for the nine months ended December 31, 2020 (Successor) was $529,732. Depreciation expense for the twelve months ended December 31, 2021 (Successor) was $734,358.