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Property and Equipment
 9 Months Ended
Sep. 30, 2023
Property and Equipment  
Property and Equipment

Note 5. Property and Equipment

 

Property and equipment, net consisted of the following:

 

 

 

September 30, 2023

 

 

December 31, 2022

 

Machinery and equipment

 

$15

 

 

$-

 

Computer hardware and software

 

 

15

 

 

 

-

 

VIVO DEMO/Clinical systems

 

 

55

 

 

 

-

 

Property and equipment, gross

 

 

85

 

 

 

-

 

Accumulated depreciation

 

 

(26)

 

 

-

 

Property and equipment, net

 

$59

 

 

$-

 

 

Depreciation expense was $9 thousand and $26 thousand for the for the three and nine months ended September 30, 2023, respectively.  Depreciation expense was $0 and $179 thousand for the three and nine months ended September 30, 2022, respectively.

 

Due to the Company’s decision to discontinue enrollment of patients in its clinical trial and the RIF, the Company suspended manufacturing activities in June 2022.  The Company’s property and equipment was determined to be impaired as of June 30, 2022, resulting in an impairment charge of $1.5 million which was based on the actual cash proceeds received upon the disposal of the property and equipment in July 2022.  The impairment charge of $1.5 million is included in restructuring and impairment charges in the condensed statements of operations for the nine months ended September 30, 2022.