Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

 

5. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following as of December 31, 2021 and 2020:

 

    2021     2020  
    As of December 31,  
    2021     2020  
             
Computers   $ 29,000     $ 29,000  
Furniture and fixture     75,000       75,000  
Machinery and equipment     49,000       39,000  
Leasehold improvement     1,058,000       1,058,000  
Total property and equipment     1,211,000       1,201,000  
Accumulated depreciation     (509,000 )     (339,000 )
Total property and equipment, net   $ 702,000     $ 862,000  

 

Depreciation expense amounted to $181,000 and $175,000 for the years ended December 31, 2021 and 2020, respectively.