Property and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

7. Property and Equipment

Property and equipment consisted of the following:

(Dollars in thousands)	June 30, 2024			December 31, 2023			Useful Life (in years)
Furniture and fixtures	$	2,933		$	3,410		3.0 - 7.0
Digital can printer		3,649			3,649		12.5
Support of digital can printer		695			695		7.0
Leasehold improvements		1,529			1,529		3.5 - 5.0
Vehicles		156			156		5.0
Total cost		8,962			9,439
Less accumulated depreciation		(4,680	)		(4,671	)
Total property and equipment, net	$	4,282		$	4,768

Purchases of property and equipment for the six months ended June 30, 2024 and 2023 were $2,200 and $0.1 million, respectively. Depreciation expense totaled $0.4 million and $0.6 million for the six months ended June 30, 2024 and 2023, respectively.

During the six months ended June 30, 2024, the Company disposed of fixed assets for proceeds of $0.1 million, including future proceeds of installment sales of $0.4 million, with a net book value of $0.1 million resulting in a gain of $0.2 million. During the six months ended June 30, 2023, the Company disposed of fixed assets for proceeds of $0.3 million, including future proceeds of installment sales of $0.1 million, with a net book value of $0.2 million resulting in a gain of $0.1 million.