Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.1
Property and Equipment
3 Months Ended
Mar. 31, 2019
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 the 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:


 

 

March 31,

2019

 

December 31,
2018

 

Lab equipment

 

$

1,257,525

 

$

1,218,532

 

Leasehold improvements

 

 

9,445

 

 

9,445

 

Computers

 

 

45,055

 

 

38,589

 

Furniture and fixtures

 

 

58,146

 

 

58,146

 

Total

 

 

1,370,171

 

 

1,324,712

 

Accumulated depreciation

 

 

(748,752

)

 

(681,566

)

Property and equipment, net

 

$

621,419

 

$

643,146

 


Depreciation expense was $67,186 and $44,075 for the three months ended March 31, 2019 and 2018, respectively.