Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.21.1
Property and Equipment
12 Months Ended
Dec. 31, 2020
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)

2020

2019

Computer equipment

 

3

$

68

$

53

Furniture and fixtures

 

5

 

181

 

145

Machinery and equipment

 

5

 

5,748

 

4,594

Leasehold improvements

 

9

 

5,099

 

3,877

Construction in process

 

N/A

 

499

 

1,157

Total property and equipment

 

11,595

 

9,826

Less: accumulated depreciation

 

(3,567)

 

(1,890)

Property and equipment, net

$

8,028

$

7,936

Mustang’s depreciation expense for the years ended December 2020 and 2019 was approximately $1.7 million and $1.3 million, respectively, and was recorded in research and development expense in the Statements of Operations.