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Property and Equipment | 12 Months Ended
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Dec. 31, 2023
Property and Equipment [Abstract] |
Property and Equipment | Note 7 – Property and Equipment The Company’s property and equipment are primarily located at the Company’s leased facilities in Hoboken, NJ and Tempe, AZ and consist of (in thousands):
|  | December 31, |
Classification |  | 2023 |  |  | 2022 |
Computer and lab equipment |  | $ | 2,999 |  |  | $ | 985 |
Network equipment |  |  | 29 |  |  |  | 12 |
Furniture and fixtures |  |  | 32 |  |  |  | 28 |
Software |  |  | 49 |  |  |  | 19 |
Leasehold improvements |  |  | 33 |  |  |  | 3 |
Total cost of property and equipment |  |  | 3,142 |  |  |  | 1,046 |
Accumulated depreciation |  |  | 272 |  |  |  | 71 |
Property and equipment, net |  | $ | 2,870 |  |  | $ | 975 |
The Company recorded depreciation expense of $203 thousand and $52 thousand during the years ended December 31, 2023 and 2022, respectively, using useful lives of the Company’s long-lived assets are as follows:
|  | Estimated Useful Life (Years) |
Computer and laboratory equipment |  | 5 |
Network equipment |  | 4 |
Furniture and fixtures |  | 7 |
Software |  | 3 |
Leasehold improvements |  | Lessor of lease term or 5 |
Maintenance and repairs are charged to operations when incurred. When property and equipment are sold or otherwise disposed, the asset account and related accumulated depreciation and amortization accounts are relieved, and any gain or loss is included in other income or expense.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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