Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.10.0.1
Property and Equipment
 6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 4 – Property and Equipment
 
Mustang’s property and equipment consisted of the following ($ in thousands):
 
 
 
Estimated Useful Life (in years)
 
 
June 30,
2018
 
 
December 31,
2017
 
Computer equipment
 
 
3
 
 
$
53
 
 
$
-
 
Furniture and fixtures
 
 
5
 
 
 
111
 
 
 
-
 
Machinery & equipment
 
 
5
 
 
 
1,897
 
 
 
142
 
Leasehold improvements
 
 
9
 
 
 
3,736
 
 
 
-
 
Construction in process
 
 
N/A
 
 
 
864
 
 
 
1,241
 
Total property and equipment
 
 
 
 
 
 
6,661
 
 
 
1,383
 
Less: accumulated depreciation
 
 
 
 
 
 
(125
)
 
 
(2
)
Property and equipment, net
 
 
 
 
 
$
6,536
 
 
$
1,381
 
 
Mustang’s depreciation expense for the three months ended June 30, 2018 and 2017, was approximately $115,000 and $0, respectively, and was recorded in research and development expense in the Condensed Statements of Operations. Mustang’s depreciation expense for the six months ended June 30, 2018 and 2017, was approximately $122,000 and $0, respectively, and was recorded in research and development expense in the Condensed Statements of Operations.