4. Property and Equipment, net
|9 Months Ended|
Sep. 30, 2018
|Property, Plant and Equipment [Abstract]|
|Property and Equipment, net||
Property and equipment, net consists of the following:
Depreciation expense was approximately $1,000 and $5,000 for the three months ended September 30, 2018 and 2017, respectively, and approximately $13,000 and $19,000 for the nine months ended September 30, 2018 and 2017, respectively. During the three months ended September 30, 2018, the Company sold lab equipment for $22,500 resulting in an approximate $15,000 gain.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef