Property and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 6 - Property and Equipment

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

	December 31,
	2019			2018			Estimated Useful Life
Network equipment and software	$	6,081		$	6,858		3 to 5 Years
Computer equipment and software	3,100			2,354			3 to 5 Years
Office furniture and equipment	297			164			3 to 10 Years
Leasehold improvements	112			63			(*)
	9,590			9,439
Accumulated depreciation and amortization	(8,274		)	(8,711		)
Property and equipment, net	$	1,316		$	728

(*) – Amortized over the shorter period of the estimated useful life (five years) or the lease term.

In connection with the acquisition of Oblong Industries, the Company recorded $1,221,000 of property and equipment on October 1, 2019. Related depreciation and amortization expense for the consolidated entities was $614,000 and $628,000 for the years ended December 31, 2019 and 2018, respectively.

For the years ended December 31, 2019 and 2018, the Company recorded asset impairment charges on property and equipment of $63,000 and $138,000, which pertained primarily to assets no longer used in the business. These charges are recognized as “Impairment Charges” on our Consolidated Statements of Operations. During the year ended December 31, 2019, the Company disposed of fixed assets of $1,115,000, and the corresponding accumulated depreciation of $1,052,000, which resulted in a loss on disposal of $63,000.