XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.3
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
9.    Property and Equipment, Net
As of September 30, 2025 and December 31, 2024, Property and equipment consist of the following:
As of
September 30, 2025December 31, 2024
$’000$’000
Furniture and equipment231 232 
Vehicles215 215 
Leasehold improvements11 11 
Land and land improvements11,766 11,766 
Construction in process6 6 
Property and equipment, gross12,229 12,230 
Less: accumulated depreciation(486)(410)
Property and equipment, net11,743 11,820 
Depreciation expense amounted to $27.0 thousand and $0.1 million for the three months ended September 30, 2025 and 2024, respectively. Depreciation expense amounted to $0.1 million and $0.3 million for the nine months ended September 30, 2025 and 2024, respectively. The Company wrote off Property and equipment related to closed locations and future locations that were terminated due to a change of business focus and recorded a loss on disposal of nil and $0.1 million during the three months ended September 30, 2025 and 2024, respectively, and nil and $0.2 million for or the nine months ended September 30, 2025 and 2024, respectively, in the Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income / (Loss).