v3.25.4
NOTE 8 - PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2025
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

NOTE 8 PROPERTY AND EQUIPMENT

 

Property and equipment at December 31, 2025 and 2024 are summarized as follows:

 

 

 

December 31,

 

December 31,

 

(in thousands)

 

2025

 

2024

 

Machinery, furniture, and equipment

 

$

312

 

$

225

 

Leasehold improvements

 

 

222

 

 

195

 

 

 

 

534

 

 

420

 

Less: accumulated depreciation

 

 

(117)

 

 

(48)

 

Total property and equipment, net

 

$

417

 

$

372

 

 

The Company recorded depreciation expense on property and equipment of $60 thousand and $44 thousand for the years ended December 31, 2025 and 2024, respectively, which is included in general and administrative expenses in the consolidated statements of operations.