Emmaus Life Sciences, Inc. Annual report pursuant to Section 13 and 15(d)

SELECTED FINANCIAL STATEMENT ASSETS

12 Months Ended

Dec. 31, 2021

NOTE 4—SELECTED FINANCIAL STATEMENT ASSETS

Inventories consisted of the following (in thousand):

	As of December 31,
	2021			2020
Raw materials and components	$	1,439		$	1,486
Work-in-process		115			721
Finished goods		6,228			6,064
Inventory reserve		(3,390	)		(1,184	)
Total	$	4,392		$	7,087

Prepaid expenses and other current assets consisted of the following (in thousands):

Property and equipment consisted of the following (in thousands):

	As of December 31,
	2021			2020
Equipment	$	342		$	347
Leasehold improvements		39			39
Furniture and fixtures		103			99
Construction-in-progress		57			—
Total property and equipment		541			485
Less: accumulated depreciation		(394	)		(365	)
Property and equipment, net	$	147		$	120

For each of the years ended December 31, 2021 and 2020, depreciation expense was approximately $46,000.