5.   PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT 

Depreciation and amortization expense related to property and equipment was $1,903, $378, and $187 for the years ended December 31, 2021, 2020 and 2019, respectively, of which, $1,531, $345 and $128, respectively, was recorded within cost of sales in the accompanying consolidated statements of operations.

During the years ended December 31, 2021, 2020 and 2019, the Company disposed of property and equipment with a net book value of $798, $368 and $0 which resulted in a loss on disposal of $156, $279 and $65, respectively, which was included within general and administrative expenses in the consolidated statements of operations.

During the years ended December 31, 2021, 2020, and 2019 the Company transferred charging stations of $2,189, $1,980 and $664 from inventory into property and equipment.

On January 22, 2021, the Company completed its purchase of approximately 10,000 square feet of office condominium space which became the Company’s corporate headquarters. The purchase price was $4,000, of which, $600 was paid in the form of the Company’s common stock (13,123 shares) and $3,400 in cash.

See Note 3 - Business Combination for additional details of the acquisition of property and equipment.

BLINK CHARGING CO. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 and 2019

(in thousands except for share and per share amounts)