| PROPERTY AND EQUIPMENT |
Note 3. PROPERTY AND EQUIPMENT
The components of property and equipment at March
31, 2026 and December 31, 2025 consisted of the following:
| | | March 31, | | | December 31, | | | | | | | | 2026 | | | 2025 | | | | | | | | | | | | | | | | | Land | | $ | 313,000 | | | $ | 313,000 | | | | | | | Buildings and Improvements | | | 2,739,000 | | | | 2,739,000 | | | | 31.5 years | | | Machinery and Equipment | | | 27,080,000 | | | | 26,953,000 | | | | 5 - 8 years | | | Tools and Instruments | | | 16,577,000 | | | | 16,278,000 | | | | 1.5 - 7 years | | | Automotive Equipment | | | 266,000 | | | | 266,000 | | | | 5 years | | | Furniture and Fixtures | | | 309,000 | | | | 309,000 | | | | 5 - 8 years | | | Leasehold Improvements | | | 1,139,000 | | | | 1,139,000 | | | | Term of lease | | | Computers and Software | | | 705,000 | | | | 705,000 | | | | 4 - 6 years | | | Total Property and Equipment | | | 49,128,000 | | | | 48,702,000 | | | | | | | Less: Accumulated Depreciation | | | (39,913,000 | ) | | | (39,201,000 | ) | | | | | | Property and Equipment, net | | $ | 9,215,000 | | | $ | 9,501,000 | | | | | |
Depreciation expense for the three months ended
March 31, 2026 and 2025 was approximately $711,000 and $580,000, respectively.
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