Veru Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Fixed Assets

Note 6 - Fixed Assets

3 Months Ended

Dec. 31, 2024

Property, Plant and Equipment Disclosure [Text Block]

Note 6 – Fixed Assets

We record equipment, furniture and fixtures, and leasehold improvements at historical cost. Expenditures for maintenance and repairs are recorded to expense. Depreciation and amortization are primarily computed using the straight-line method. Depreciation and amortization are computed over the estimated useful lives of the respective assets. Leasehold improvements are depreciated on a straight-line basis over the lesser of the remaining lease term or the estimated useful lives of the improvements.

Property and equipment consisted of the following at December 31, 2024 and September 30, 2024:

	Estimated		December 31,			September 30,
	Useful Life (in years)		2024			2024
Property and equipment:
Office equipment, furniture and fixtures		3 - 7		765,911			765,911
Leasehold improvements		8		199,532			199,532
Total property and equipment				965,443			965,443
Less: accumulated depreciation and amortization				(513,400	)		(484,071	)
Property and equipment, net			$	452,043		$	481,372

Depreciation expense was approximately $29,000 and $32,000 for the three months ended December 31, 2024 and 2023, respectively.