Quarterly report pursuant to Section 13 or 15(d)

Furniture, Equipment and Leasehold Improvements, Net

v3.22.2
Furniture, Equipment and Leasehold Improvements, Net
6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Furniture, Equipment and Leasehold Improvements, Net

6. FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

The following is a summary of furniture, equipment and leasehold improvements, net as of June 30, 2022 and December 31, 2021:

 

 

 

June 30,
2022

 

 

December 31,
2021

 

Leasehold improvements

 

$

7,859

 

 

$

7,859

 

Furniture and equipment

 

 

8,548

 

 

 

8,258

 

Artwork

 

 

505

 

 

 

505

 

Total cost

 

 

16,912

 

 

 

16,622

 

Accumulated depreciation and amortization

 

 

(11,945

)

 

 

(11,365

)

Furniture, equipment and leasehold improvements, net

 

$

4,967

 

 

$

5,257

 

 

Depreciation expense for the three months ended June 30, 2022 and 2021 was $296 and $306, respectively. Depreciation expense for the six months ended June 30, 2022 and 2021 was $580 and $587, respectively.

During the three and six months ended June 30, 2022, the Company wrote off leased assets of $24, with accumulated depreciation of $24. During the three and six months ended June 30, 2021, the Company wrote off leased assets of $0 and $82, respectively, with accumulated depreciation of $0 and $64, respectively.