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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE 6—PROPERTY AND EQUIPMENT, NET

 

Property and equipment consists of the following:

 

  

Estimated

Useful Life

(in years)

  As of December 31, 
      2024   2023 
      (in thousands) 
Cost:             
Computer hardware and software  3 - 5  $724   $938 
Equipment  7   133    157 
Leasehold improvements  Term of lease   356    356 
Intangible asset  Patent term   21    21 
       1,234    1,472 
Accumulated depreciation and amortization             
Computer hardware and software      257    403 
Equipment      122    153 
Leasehold improvements      350    346 
Intangible asset      *    * 
       729    902 
Property and equipment, net     $505   $570 

 

* less than $1,000

 

During the year ended December 31, 2024, the Company wrote off fully depreciated equipment and software with an original cost of $294,000. These assets were no longer in use and had no remaining economic value. The write-off had no impact on the Company’s financial position or results of operations, as the assets were fully depreciated.

 

Depreciation and amortization in respect of property and equipment amounted to $121,000 and $161,000 for 2024 and 2023, respectively.