PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 3 – PROPERTY AND EQUIPMENT

Equipment for Lease

During the three months ended March 31, 2022, and 2021, the Company capitalized $0 thousand and $45 thousand respectively, in connection with the certification and production of the VerifyChecker™ and the Verify Authenticator^TM technology. The Company depreciates equipment for lease over its useful life of five years. Depreciation expense for Equipment for lease was $15 thousand and $11 thousand for the three months ended March 31, 2022, and 2021, respectively, included in general and administrative expense in the accompanying Statements of Operations.

Office Equipment

During the three months ended March 31, 2022, and 2021, the Company capitalized $0 thousand and $0 thousand respectively, in office equipment. The Company depreciates the office equipment over its useful life of three years. The depreciation expense for office equipment was $1 thousand for the three months ended March 31, 2022, and $0 thousand for the three months ended March 31, 2021, and is included in general and administrative expense in the accompanying Statements of Operations.