Property and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

7. Property and Equipment

Property and equipment consisted of the following:

(Dollars in thousands)	March 31, 2023			December 31, 2022
Furniture and fixtures	$	4,073		$	4,093
Digital can printer		4,264			4,216
Leasehold improvements		1,529			1,529
Vehicles		222			222
Total cost		10,088			10,060
Less accumulated depreciation		(4,599	)		(4,319	)
Total property and equipment, net	$	5,489		$	5,741

Purchases of property and equipment totaled $0 million and $1.4 million for the three months ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2022, the Company invested $1.3 million in the digital can printer that was not in operation at quarter-end. Depreciation expense totaled $0.3 million and $0.1 million for the three months ended March 31, 2023 and 2022, respectively.

During the three months ended March 31, 2023, the Company disposed of fixed assets resulting in a loss of $5,901 and wrote off obsolete fixed assets with a net book value of $0.1 million.