Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.2
Property and Equipment
 9 Months Ended
Sep. 30, 2020
Property and Equipment  
Property and Equipment

3. Property and Equipment

Property and equipment at September 30, 2020 and December 31, 2019 consists of the following:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

 

 

 

 

 

 

Useful Life

 

September 30, 2020

 

 

 

    

(Years)

    

(unaudited)

    

December 31, 2019

Laboratory Equipment

 

3

 

$

62,576

 

$

62,576

Office Furniture

 

5

 

 

14,430

 

 

14,430

Leasehold Improvements

 

2

 

 

22,569

 

 

22,569

Total Property and Equipment, Gross

 

 

 

 

99,575

 

 

99,575

Less: Accumulated Depreciation

 

 

 

 

88,322

 

 

82,729

Total Property and Equipment, Net

 

 

 

$

11,253

 

$

16,846

 

 

Depreciation expense was $2,388 and $6,668 for the three months ended September 30, 2020 and 2019, respectively, and $5,593 and $20,004 for the nine months ended September 30, 2020 and 2019, respectively.