Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.3
Property and Equipment
 9 Months Ended
Sep. 30, 2019
Property and Equipment  
Property and Equipment

3. Property and Equipment

Property and equipment at September 30, 2019 and December 31, 2018 consists of the following:

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

September 30, 

 

 

 

 

 

Useful Life

 

2019

 

December 31, 

 

    

(Years)

    

(unaudited)

    

2018

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

 

 

 

 

76,061

 

 

56,057

Total Property and Equipment, Net

 

 

 

$

23,514

 

$

43,518

 

 

Depreciation expense was $6,668 and $9,633 for the three months ended September 30, 2019 and 2018, respectively, and $20,004 and $25,564 for the nine months ended September 30, 2019 and 2018, respectively.