v3.25.2
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
8.    Property and Equipment, Net
As of June 30, 2025 and December 31, 2024, Property and equipment consist of the following:
As of
June 30, 2025December 31, 2024
$’000$’000
Furniture and equipment232 232 
Vehicles215 215 
Leasehold improvements11 11 
Land and land improvements11,766 11,766 
Construction in process6 6 
Property and equipment, gross12,230 12,230 
Less: accumulated depreciation(464)(410)
Property and equipment, net11,766 11,820 
Depreciation expense amounted to $27.0 thousand and $0.1 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense amounted to $0.1 million and $0.3 million for the six months ended June 30, 2025 and 2024, respectively. The Company wrote off Property and equipment related to closed locations and future locations that were terminated due to a change of business focus and recorded a loss on disposal of nil and $0.1 million during the three months ended June 30, 2025 and 2024, respectively, and nil and $0.2 million for or the six months ended June 30, 2025 and 2024, respectively, in the Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income / (Loss).