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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
Property and equipment consist of the following:
December 31,
 20242023
Building
$2,860 $2,860 
Machinery and equipment
16,238 16,237 
Furniture and fixtures
1,145 1,145 
Leasehold improvements
26,919 26,919 
$47,162 $47,161 
Accumulated depreciation
(27,219)(23,553)
Construction-in-process
6,394 3,905 
Total property and equipment, net
$26,337 $27,513 
Depreciation expense for the year ended December 31, 2024 and December 31, 2023, was $4,111 and $5,080, respectively, of which $1,135 and $1,901, respectively, was recorded in Selling, general, and administrative expense in the consolidated statements of operations. For the year ended December 31, 2024 and December 31, 2023, depreciation expense of $2,976 and $3,179, respectively, was recorded in Cost of goods sold in the consolidated statements of operations.
During the year ended December 31, 2023, an impairment loss to building assets of $548 was recorded within Asset Impairment in the consolidated statement of operations. The impairment resulted from a decline in market conditions at the Company's hemp farm that indicated a fair value less than the carrying value.