Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.1
Property and Equipment
12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

 

At December 31, 2021 and 2020, property and equipment consisted of the following:

 

    Useful life   December 31,
2021
    December 31,
2020
 
Laboratory equipment   5 Years   $ 579,508     $ 741,842  
Office equipment and furniture   3 – 10 Years     34,092       39,573  
          613,600       781,415  
Less: accumulated depreciation         (252,053 )     (302,300 )
        $ 361,547     $ 479,115  

 

For the years ended December 31, 2021 and 2020, depreciation expense of property and equipment amounted to $144,513 and $145,603, respectively, of which, $3,276 and $3,276 was included in real property operating expenses, $19,914 and $70,241 was included in other operating expenses, and $121,323 and $72,086 was included in research and development expense, respectively.