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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

 

7. PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following (in thousands):

          
   December 31,   December 31, 
   2023   2022 
Office furniture and equipment  $227   $186 
Computer equipment and software   248    118 
Land, buildings and leasehold improvements   7,935    180 
Autos   616    337 
Machinery and equipment   9,200    1,556 
Total property and equipment   18,226    2,377 
Less accumulated depreciation   (1,713)   (829)
Property and Equipment, net  $16,513   $1,548 

 

Depreciation expense for 2023 and 2022 was $0.9 million and $0.4 million, respectively. In 2023 and 2022, $0.2 million and $0.2 million of depreciation was capitalized into inventory as manufacturing overhead costs, respectively. See Note 4 for additional details of the acquisition of land, buildings and machinery and equipment.