Fortress Biotech, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2012

Property and Equipment [Abstract]

Property and Equipment

4. Property and Equipment

Property and equipment consisted of the following:


($ in thousands)	Useful Life (Years)		As of December 31,
($ in thousands)	Useful Life (Years)		2012			2011
Computer equipment		3	$	10		$	41
Furniture & fixtures		5		38			—
Leasehold improvements		5		6			—

Total property and equipment				54			41

Less: Accumulated depreciation				(3	)		(41	)

Property and equipment, net			$	51		$	—

Depreciation expense for the years ended December 31, 2012, 2011, and 2010 and the period from inception to December 31, 2012 was $3,000, $22,000, $5,000 and $44,000, respectively, and was recorded in both research and development expense and general and administrative expense in the consolidated statements of operations.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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