Property and equipment last 10q were listed at about 11.7 million and building is 8 million of that? So has to be coming from 6 machines and other ancillary equipment onsite.
The reason for the impairment charge is that they fully depreciated the assets (for tax purposes) within a year or two of purchase. This is common practice in capital intensive industries as the recent tax law changes allow this. Our company does it. So they purchased $1.8M worth of machinery and fully wrote it off. They can't sell it for that price, hence the impairment charge. It is really not that big a deal and to be expected if they are liquidating the machinery to make space to lease.
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