Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.1
Property and Equipment
3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

 

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

 

    Useful life   March 31, 2019     December 31, 2018  
Laboratory equipment   5 Years   $ 424,368     $ 258,345  
Office equipment and furniture   3 – 10 Years     37,089       35,627  
Leasehold improvement   Shorter of useful life or lease term     -       24,446  
          461,457       318,418  
Less: accumulated depreciation         (62,760 )     (68,863 )
        $ 398,697     $ 249,555  

 

For the three months ended March 31, 2019 and 2018, depreciation expense of property and equipment amounted to $17,277 and $9,681, respectively, of which, $819 and $819 was included in real property operating expenses, $13,175 and $3,768 was included in costs of development services and sales of developed products, and $3,283 and $5,094 was included in other operating expenses, respectively.