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PROPERTY AND EQUIPMENT, NET
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]    
PROPERTY AND EQUIPMENT, NET

NOTE 4 - PROPERTY AND EQUIPMENT, NET

 

As of September 30, 2024 and December 31, 2023, property and equipment consist of the following (in thousands):

 

  

September 30,

2024

  

December 31,

2023

 
         
Furniture and equipment  $1,349   $1,321 
Leasehold improvements   2,479    2,479 
Construction in progress   1,692    1,435 
Software   117    - 
Molds   406    405 
Gross property and equipment   6,043    5,640 
Less accumulated depreciation   (2,726)   (2,326)
           
Net Property and equipment  $3,317   $3,314 

 

Leasehold improvements relate to the Vivos Institute (the Company’s 15,000 square foot facility where the Company provides advanced post-graduate education and certification to dentists, dental teams, and other healthcare professionals in a live and hands-on setting) and the two Company-owned dental centers in Colorado. Construction in progress relates to the development of software for internal use expected to be placed in service in late 2024. Total depreciation and amortization expense was $0.1 million for the three months ended September 30, 2024 and 2023, and $0.4 million for the nine months ended September 30, 2024 and 2023.

 

NOTE 4 - PROPERTY AND EQUIPMENT, NET

 

As of December 31, 2023 and 2022, property and equipment consist of the following (in thousands):

  

   2023   2022 
         
Furniture and equipment  $1,321   $1,265 
Leasehold improvements   2,479    2,479 
Construction in progress   1,435    948 
Molds   405    143 
Gross property and equipment   5,640    4,835 
Less accumulated depreciation   (2,326)   (1,753)
           
Net Property and equipment  $3,314   $3,082 

 

Leasehold improvements relate to the Vivos Institute (the Company’s 15,000 square foot facility where the Company provides advanced post-graduate education and certification to dentists, dental teams, and other healthcare professionals in a live and hands-on setting) and the two Company-owned dental centers in Colorado. Total depreciation and amortization expense was $0.7 and $0.6 million for the years ended December 31, 2023 and 2022, respectively.