Property and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

8. Property and Equipment

Property and equipment consisted of the following:

(Dollars in thousands)	September 30, 2024			December 31, 2023			Useful Life (in years)
Furniture and fixtures	$	625		$	625			3.0 - 7.0
Leasehold improvements		1,386			1,386			3.5 - 5.0
Vehicle		27			27			7.0
Total cost		2,038			2,038
Less accumulated depreciation		(1,926	)		(1,869	)
Total property and equipment, net	$	112		$	169

Purchases of property and equipment for the nine months ended September 30, 2024 and 2023 were nil and $0.1 million, respectively. Depreciation expense totalled $0.1 million for both the nine months ended September 30, 2024 and 2023.

During the nine months ended September 30, 2024, the Company did not dispose of any fixed assets. During the nine months ended September 30, 2023, the Company disposed of fixed assets for proceeds of $0.1 million with a net book value of $0.1 million resulting in a loss of $2,962.