Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 8 – PROPERTY AND EQUIPMENT

 

At June 30, 2018 and December 31, 2017, property and equipment consisted of the following:

 

    Useful life   June 30, 2018     December 31, 2017  
Laboratory equipment   5 Years   $ 118,887     $ 3,685  
Office equipment and furniture   3 – 10 Years     31,546       31,440  
Leasehold improvement   Shorter of useful life or lease term     24,122       24,551  
          174,555       59,676  
Less: accumulated depreciation         (31,329 )     (11,647 )
        $ 143,226     $ 48,029  

 

For the three months ended June 30, 2018 and 2017, depreciation expense of property and equipment amounted to $10,897 and $1,187, respectively, of which, $819 and $0 was included in real property operating expenses, $5,864 and $0 was included in costs of development services and sales of developed products, and $4,214 and $1,187 was included in other operating expenses, respectively.

 

For the six months ended June 30, 2018 and 2017, depreciation expense of property and equipment amounted to $20,578 and $1,213, respectively, of which, $1,638 and $0 was included in real property operating expenses, $9,632 and $0 was included in costs of development services and sales of developed products, and $9,308 and $1,213 was included in other operating expenses, respectively.