Property and Equipment, net

12 Months Ended

Dec. 31, 2022

Property and Equipment, net [Abstract]

7. Property and Equipment, net

On November 18, 2021, the Company, through UOT, sold to a subsidiary of Diana Shipping Inc. its co-owned indivisible share in a plot of land, located in Athens, Greece, for a purchase price of Euro 1,100,000 (or $1,248 based on a $1.1345 Euro/USD exchange rate). In connection with this sale, the Company recorded a gain, net of $233 taxes and expenses, of $137, which is presented as Gain from property sale in the accompanying 2021 consolidated statement of operations.

The amounts in the accompanying consolidated balance sheets are analyzed as follows:

	Property and Equipment			Accumulated Depreciation			Net Book Value
Balance, December 31, 2020	$	1,790		$	(655	)	$	1,135
- Additions in equipment		8			-			8
- Land sale		(878	)		-			(878	)
- Depreciation		-			(114	)		(114	)
Balance, December 31, 2021	$	920		$	(769	)	$	151
- Additions in equipment		27			-			27
- Depreciation		-			(106	)		(106	)
Balance, December 31, 2022	$	947		$	(875	)	$	72