Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.3
Property and Equipment
9 Months Ended
Sep. 30, 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 consist of the following at:

 

 

September 30,

2019

 

December 31,
2018

 

Lab equipment

 

$

1,290,677

 

$

1,218,532

 

Leasehold improvements

 

 

9,445

 

 

9,445

 

Computers

 

 

49,603

 

 

38,589

 

Furniture and fixtures

 

 

118,305

 

 

58,146

 

Total

 

 

1,468,030

 

 

1,324,712

 

Accumulated depreciation

 

 

(858,114

)

 

(681,566

)

Property and equipment, net

 

$

609,916

 

$

643,146

 


Depreciation expense was $54,826 and $176,548 for the three and nine months ended September 30, 2019, respectively, and $62,827 and $171,235 for the three and nine months ended September 30, 2018, respectively.