PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment is summarized as follows:

	December 31,
	2019		2018
	(in thousands)
Furniture and fixtures	$	5,114	$	5,114
Computer hardware/equipment		277		524
Leasehold improvements		6,162		6,154
Computer software		570		715
Websites		169		304
Property and equipment		12,292		12,811
Less accumulated depreciation and amortization		(6,943)		(4,420)
Property and equipment, net	$	5,349	$	8,391

In June 2019, the Company completed the sale of MSLO.  As a result, property and equipment, net decreased by $0.6 million which was recorded within assets from discontinued operations as of December 31, 2018. 

There were no impairments of property and equipment recorded in the consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017. The Company reviews the estimated lives of its fixed assets on an ongoing basis.  The review indicated that the lives of certain leasehold improvements were shorter than the estimated useful lives used for depreciation purposes.  As a result, effective December 1, 2019, the Company changed its estimates of the useful lives of the leasehold improvements to better reflect the estimated periods during which the assets will remain in service.  The remaining useful life is four months for these assets. The effect of the change was an increase of $1.5 million to depreciation and amortization expense from continuing operations for the year ended December 31, 2019.  Depreciation and amortization expense from continuing operations amounted to $3.0 million, $1.7 million and $1.5 million for the years ended December 31, 2019, 2018 and 2017, respectively.