Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT, NET

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

 

7. PROPERTY, PLANT AND EQUIPMENT, NET

 

Property, plant and equipment, net consists of the following (in thousands):

 

               
    December 31,  
    2023     2022  
Plant, machinery and equipment   $ 12,089     $ 34,482  
Furniture and fixtures     426       774  
Leasehold improvements     1,120       2,712  
      13,635       37,968  
Accumulated depreciation     (9,121 )     (30,617 )
Total Property, plant and equipment, net   $ 4,514     $ 7,351  

 

Depreciation expense totalled approximately $3.0 million and $3.6 million for the years ended December 31, 2023 and 2022, respectively.