Annual report pursuant to Section 13 and 15(d)

4. Property and Equipment, net

v3.19.1
4. Property and Equipment, net
 12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
4. Property and Equipment, net

 

Property and equipment, net consists of the following:

 

    December 31,
2018		     December 31,
2017		  
Laboratory equipment   $ –     $ 264,583  
Office and computer equipment     42,289       46,634  
Leasehold improvements     26,841       26,841  
Furniture and fixtures     20,263       20,263  
Property and equipment – at cost     89,393       358,321  
Less accumulated depreciation     (84,437 )     (330,475 )
Property and equipment – net   $ 4,956     $ 27,846  

 

Depreciation expense was approximately $16,000 and $24,000 for the years ended December 31, 2018 and 2017, respectively. During the year ended December 31, 2018, the Company sold certain laboratory equipment for $22,500 resulting in an approximate $15,000 gain.