NeuBase Therapeutics, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Equipment and Assets Held for Sale

Equipment and Assets Held for Sale

9 Months Ended

Sep. 30, 2023

4. Equipment and Assets Held for Sale

The Company’s equipment and assets held for sale consisted of the following, after the effects of impairment charges and held-for-sale reclassifications:


	As of September 30,		As of December 31,
	2023		2022
	Unaudited		Unaudited
Laboratory equipment	$	—	$	3,048,579
Office equipment		259,979		259,978
Leasehold improvements		31,405		17,958
Total		291,384		3,326,515
Accumulated depreciation and amortization		(211,719)		(1,392,415)
Equipment, net	$	79,665	$	1,934,100

Assets held for sale	$	429,140		—

During the nine months ended September 30, 2023, the Company recorded impairment charges of $0.9 million in connection with its restructuring, see Note 8. Depreciation expense for the three months ended September 30, 2023 and 2022 was approximately $0.1 million and $0.2 million, respectively. Depreciation expense for the nine months ended September 30, 2023 and 2022 was approximately $0.5 million and $0.6 million, respectively.