Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET

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PROPERTY AND EQUIPMENT, NET
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE 4 – PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net consisted of the following (in thousands):

 

    September 30     December 31  
    2020     2019  
    (in thousands)  
Property and equipment, net:                
Land and Buildings   $ 4,000     $ —  
Office furniture and equipment     364       334  
Leasehold improvements     23       23  
      4,387       357  
Less: Accumulated depreciation and amortization     (343 )     (323 )
    $ 4,044     $ 34  

 

On September 28, 2020, the Company completed the purchase of its 40,000 square foot facility in Massachusetts for $4,000,000, to house its new Advanced Development Center for accelerated development and manufacturing of vaccines. As of September 30, 2020, the asset has not been placed in service.