Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.10.0.1
Property and Equipment
9 Months Ended
Sep. 30, 2018
Property Plant And Equipment [Abstract]  
Property and Equipment

Note 5. Property and Equipment

Depreciation and amortization of property and equipment is calculated on the straight-line method based on estimated useful lives of six to ten years for tenant improvements and three to five years for all other property and equipment.  Property and equipment consist of the following:

 

 

September 30,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Lab equipment

 

$

2,399,956

 

 

$

1,914,911

 

Computer equipment

 

 

169,366

 

 

 

169,366

 

Computer software

 

 

317,747

 

 

 

299,227

 

Furniture and fixtures

 

 

250,801

 

 

 

202,218

 

Tenant improvements

 

 

894,756

 

 

 

763,898

 

Other office equipment

 

 

132,817

 

 

 

63,825

 

 

 

 

4,165,443

 

 

 

3,413,445

 

Less accumulated depreciation

 

 

(2,799,134

)

 

 

(2,376,585

)

 

 

$

1,366,309

 

 

$

1,036,860

 

Depreciation expense was $156,093 and $114,358 for the three months ended September 30, 2018 and 2017, respectively, and $422,549 and $336,817 for the nine months ended September 30, 2018 and 2017, respectively.