Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.19.1
Property and Equipment
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

6.

Property and Equipment


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


Property and equipment consisted of the following at:


 

 

December 31,

 

 

 

2018

 

 

2017

 

Lab equipment

 

$

1,218,532

 

 

$

645,433

 

Leasehold improvements

 

 

9,445

 

 

 

—

 

Computers

 

 

38,589

 

 

 

41,333

 

Furniture and fixtures

 

 

58,146

 

 

 

55,883

 

 

 

 

 

 

 

 

 

 

Total

 

 

1,324,712

 

 

 

742,649

 

Accumulated depreciation

 

 

(681,566

)

 

 

(455,758

)

 

  

 

 

 

 

 

 

 

Property and equipment, net

 

$

643,146

 

 

$

286,891

 


Depreciation expense totaled $237,318 and $134,084 for the years ended December 31, 2018 and 2017, respectively.