Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.19.3
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and equipment, net
Property and Equipment, net
Property and equipment, net, consisted of the following (in thousands):
Asset Class
 
Useful Life
(Years)
 
September 30,
2019
 
December 31,
2018
 
 
 
 
 
 
 
Operational equipment
 
3-10
 
$
21,461

 
$
15,926

Lab equipment
 
5
 
580

 
698

Computer equipment
 
3
 
221

 
201

Office furniture and equipment
 
3
 
353

 
336

Land
 
-
 
1,047

 
1,047

Building
 
39
 
24,867

 
24,820

Asset retirement cost
 
20
 
670

 
670

Equipment under construction
 
 
 
11,087

 
7,892

 
 
 
 
60,286

 
51,590

Less: accumulated depreciation
 
 
 
(8,637
)
 
(6,042
)
 
 
 
 
 
 
 
Total property and equipment, net
 
 
 
$
51,649

 
$
45,548


Depreciation expense was $0.9 million and $2.7 million for the three and nine months ended September 30, 2019, respectively, and $0.8 million and $2.4 million for the three and nine months ended September 30, 2018, respectively. Equipment under construction is primarily AquaRefining modules manufactured by the Company to be used in the McCarran, Nevada recycling plant.