Annual report pursuant to Section 13 and 15(d)

Property and Equipment (Tables)

v3.8.0.1
Property and Equipment (Tables)
12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Line Items]  
Components of Property and Equipment
Fortress’ property and equipment, exclusive of National’s property and equipment consisted of the following:
 
 
 
Useful Life
 
As of December 31,
 
($ in thousands)
 
(Years)
 
2017
 
2016
 
Computer equipment
 
3
 
$
543
 
$
440
 
Furniture and fixtures
 
5
 
 
1,009
 
 
821
 
Machinery and Equipment
 
5
 
 
143
 
 
–
 
Leasehold improvements
 
5 - 15
 
 
5,351
 
 
5,396
 
Construction in progress (1)
 
NA
 
 
1,241
 
 
–
 
Total property and equipment
 
 
 
 
8,287
 
 
6,657
 
Less: Accumulated depreciation
 
 
 
 
(1,171)
 
 
(445)
 
Property and equipment, net
 
 
 
$
7,116
 
$
6,212
 
 
(1) For build-out of Mustang’s cell processing facility in Worcester, MA. The total cost of the construction for the Worcester facility is expected to be $3.5 million. The cost of the equipment for the facility is expected to be $2.5 million  
National Holdings Corporation [Member]  
Property, Plant and Equipment [Line Items]  
Components of Property and Equipment
National’s property and equipment as of September 30, 2017 consisted of the following:
 
 
 
Estimated Useful
 
September 30,
 
($ in thousands)
 
Lives (in years)
 
2017
 
2016
 
Equipment
 
5
 
$
1,306
 
$
600
 
Furniture and fixtures
 
5
 
 
284
 
 
65
 
Leasehold improvements
 
Lesser of useful life
or term of lease
 
 
1,006
 
 
259
 
Capital Leases (Primarily composed of computer equipment)
 
5
 
 
276
 
 
276
 
Total property and equipment
 
 
 
 
2,872
 
 
1,200
 
Less: Accumulated depreciation
 
 
 
 
(475)
 
 
(36)
 
Property and equipment, net
 
 
 
$
2,397
 
$
1,164