Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.2
Property and Equipment
6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

 

At June 30, 2019 and December 31, 2018, property and equipment consisted of the following:

 

    Useful life   June 30,
2019
    December 31,
2018
 
Laboratory equipment   5 Years   $ 422,976     $ 258,345  
Office equipment and furniture   3 – 10 Years     36,791       35,627  
Leasehold improvement   Shorter of useful life or lease term     -       24,446  
          459,767       318,418  
Less: accumulated depreciation         (84,861 )     (68,863 )
        $ 374,906     $ 249,555  

 

For the three months ended June 30, 2019 and 2018, depreciation expense of property and equipment amounted to $23,508 and $10,897, respectively, of which, $818 and $819 was included in real property operating expenses, $17,130 and $5,864 was included in costs of development services and sales of developed products, and $5,560 and $4,214 was included in other operating expenses, respectively.

 

For the six months ended June 30, 2019 and 2018, depreciation expense of property and equipment amounted to $40,785 and $20,578, respectively, of which, $1,637 and $1,638 was included in real property operating expenses, $30,485 and $9,632 was included in costs of development services and sales of developed products, and $8,662 and $9,308 was included in other operating expenses, respectively.