v3.26.1
PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET
 6 Months Ended
Jun. 30, 2026
PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET  
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

NOTE 4 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

 

The following table summarizes property, equipment and leasehold improvements as of June 30, 2026 and December 31, 2025:

 

 

 

(in thousands)

 

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

Furniture and equipment

 

 

9,538

 

 

 

9,487

 

Computer hardware

 

 

10

 

 

 

10

 

Leasehold improvements

 

 

3,193

 

 

 

3,193

 

Vehicles

 

 

634

 

 

 

634

 

Land

 

 

202

 

 

 

202

 

Construction in progress

 

 

4,142

 

 

 

813

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

17,719

 

 

 

14,339

 

Less accumulated depreciation

 

 

(7,576 )

 

 

(4,232 )

Property, equipment and leasehold improvements, net

 

$10,143

 

 

$10,107

 

 

Depreciation expense related to property, equipment and leasehold improvements for the six months ended June 30, 2026 and 2025 was $3,344,199 and $455,417, respectively. Depreciation for certain fixed assets was accelerated during the six months ended June 30, 2026, due to the Company’s shift to RTD clean nutrition manufacturing. Accelerated depreciation expense totaled $2,070,467.