Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.10.0.1
Property and Equipment
9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

5. Property and Equipment


Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives, ranging generally from three to seven years. Expenditures for maintenance and repairs are charged to expense as incurred.


Property and equipment consisted of the following:


 

 

September 30,

2018

 

December 31,
2017

 

 

 

 

 

 

  

Furniture and fixtures

 

$

55,883

 

$

55,883

 

Computers

 

 

33,096

 

 

41,333

 

Lab equipment

 

 

1,189,752

 

 

645,433

 

 

 

 

 

 

 

 

 

Total

 

 

1,278,731

 

 

742,649

 

Accumulated depreciation

 

 

(615,666

)

 

(455,758

)

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

663,065

 

$

286,891

 


Depreciation expense was $171,235 and $100,958 for the nine months ended September 30, 2018 and 2017, respectively.