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

SELECTED FINANCIAL STATEMENT ASSETS

12 Months Ended

Dec. 31, 2022

NOTE 4—SELECTED FINANCIAL STATEMENT ASSETS

Inventories consisted of the following (in thousand):


	As of December 31
	2022			2021
Raw materials and components	$	1,393		$	1,439
Work-in-process		513			115
Finished goods		5,428			6,228
Inventory reserve		(4,955	)		(3,390	)
Total inventories, net	$	2,379		$	4,392

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


	As of December 31
	2022		2021
Prepaid insurance	$	598	$	660
Prepaid expenses		467		326
Other current assets		449		394
Total prepaid expenses and other current assets	$	1,514	$	1,380

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


	As of December 31
	2022			2021
Equipment	$	367		$	342
Leasehold improvements		39			39
Furniture and fixtures		99			103
Construction-in-progress		—			57
Total property and equipment		505			541
Less: accumulated depreciation		(430	)		(394	)
Total property and equipment, net	$	75		$	147

For the years ended December 31, 2022 and 2021, depreciation expenses were approximately $39,000 and $46,000, respectively.