Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 8 – PROPERTY AND EQUIPMENT

 

At March 31, 2018 and December 31, 2017, property and equipment consisted of the following:

 

    Useful life   March 31, 2018     December 31, 2017  
Laboratory equipment   5 Years   $ 122,837     $ 3,685  
Office equipment and furniture   3 – 10 Years     31,954       31,440  
Leasehold improvement   1.75 Years     25,407       24,551  
          180,198       59,676  
Less: accumulated depreciation         (21,783 )     (11,647 )
        $ 158,415     $ 48,029  

 

For the three months ended March 31, 2018 and 2017, depreciation expense of property and equipment amounted to $9,681 and $26, respectively, of which, $819 and $0 was included in real property operating expenses, $3,768 and $0 was included in costs of development services and sales of developed products, and $5,094 and $26 was included in other operating expenses, respectively.