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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following on December 31:

 

SCHEDULE OF PROPERTY AND EQUIPMENT

   2022   2021  

Depreciation and Amortization Est.

Useful Lives

   (in thousands)    
Land  $1,205   $1,205    
Buildings   6,640    6,640   39 Years
Leasehold Improvements   396    412   3-10 Years (Lesser of Life or Lease)
Equipment   15,448    14,625   3-10 Years
Property and Equipment - Gross   23,689    22,882    
Accumulated Depreciation   (15,285)   (14,313)   
Property and Equipment - Net  $8,404   $8,569 

 

 

The above amounts include capital related items of $535,000 and $112,000 as of December 31, 2022 and 2021, respectively, which had not yet been placed in service by the Company, and therefore no depreciation was recorded in the related periods for those assets. Depreciation and amortization expense was approximately $1,096,000, $1,020,000, and $870,000 for the years ended December 31, 2022, 2021 and 2020, respectively.