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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
(In thousands)June 30, 2023
(Unaudited)		December 31,
2022
Land$— $1,600 
Building and improvements— 4,426 
Machinery and equipment2,555 2,613 
Furniture and fixtures222 211 
Computer equipment and software1,230 1,420 
Leasehold improvements178 178 
Molds919 847 
Total property, plant and equipment5,104 11,295 
Less: accumulated depreciation and amortization(3,530)(5,041)
Property and equipment in service1,574 6,254 
Construction in progress544 507 
Property and equipment, net$2,118 $6,761 

In an effort to improve liquidity and the balance sheet condition of the Company, management explored options to leverage the Company’s unencumbered real property. On February 27, 2023, the Company’s Board of Directors approved a plan to sell and leaseback the Company's real property located in Clearwater, FL.

On March 14, 2023, the Company entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with VK Acquisitions VI, LLC (the “Purchaser”), for the sale of the Company’s facility located at 5115 Ulmerton Road, Clearwater, Florida, as more fully described in the Purchase Agreement (collectively, the “Property”) for a purchase price of $7,650,000.

On May 8, 2023, the Company closed on the Purchase Agreement and concurrently executed a 10-year agreement to leaseback the underlying Property from the Purchaser (see Note 5). The Company received net cash proceeds of approximately $6,600,000, after withholding the security deposit of approximately $0.6 million, equal to one year's rent, taxes, first months rent, expenses, and fees. The $2,700,000 gain on this transaction is presented in gain on sale-leaseback in the accompanying Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023.