Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.20.1
Property and Equipment
 12 Months Ended
Dec. 31, 2019
Property and Equipment  
Property and Equipment

Note 5 - Property and Equipment

Mustang’s property and equipment consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

    

Estimated Useful

    

December 31, 

    

December 31, 

($ in thousands)

 

Life (in years)

 

2019

 

2018

Computer equipment

 

3

 

$

53

 

$

53

Furniture and fixtures

 

5

 

 

145

 

 

111

Machinery and equipment

 

5

 

 

4,594

 

 

3,143

Leasehold improvements

 

9

 

 

3,877

 

 

3,790

Construction in process

 

N/A

 

 

1,157

 

 

393

Total property and equipment

 

 

 

 

9,826

 

 

7,490

Less: accumulated depreciation

 

 

 

 

(1,890)

 

 

(632)

Property and equipment, net

 

 

 

$

7,936

 

$

6,858

 

Mustang’s depreciation expense for the year ended December 2019 and 2018 was approximately $1.3 million and $0.6 million, respectively, and was recorded in research and development expense in the Statements of Operations.