Property and Equipment

6 Months Ended

Jun. 30, 2024

Property and Equipment

Property and Equipment

6. Property and Equipment.

Property and equipment at June 30, 2024 consisted of the following:

Machinery and equipment	$	11,045,000
Leasehold improvements		113,000
Bushes		489,000
Vehicles		575,000
Furniture and fixtures		218,000
Property and equipment, gross		12,440,000
Less: accumulated depreciation		(1,017,000	)
Property and equipment, net	$	11,423,000

At June 30, 2024, property and equipment, net of $758,000 were located outside of the U.S.

Depreciation expense was $424,000 and $569,000 for the three and six months ended June 30, 2024. Depreciation of $378,000 and $46,000 were recorded within cost of sales and sales, general and administrative expenses, respectively, for the three months ended June 30, 2024. Depreciation of $500,000 and $66,000 were recorded within cost of sales and sales, general and administrative expenses, respectively, for the six months ended June 30, 2024. Depreciation expense for the three and six months ended June 30, 2023 was $12,000 and $26,000, respectively, which was recorded in sales, general and administrative expenses.