Note 6 – Leasehold Improvements and Equipment

Leasehold improvements and equipment, summarized by major category, consist of the following for the years ended December 31, 2019 and 2018 (in thousands):

Depreciation and amortization expense for the years ended December 31, 2019 and 2018 was approximately $206 thousand and $218 thousand, respectively. Due to the adoption of the new lease accounting pronouncement in January 2019 and the reclass of certain right-of-use assets upon adoption, the Company reclassed $559 thousand and $72 thousand of assets and related accumulated depreciation, respectively. In addition, in July 2019, the Company recorded an asset write-off of approximately $14 thousand, including $7 thousand of related accumulated depreciation.