5. Property and Equipment, net
|12 Months Ended|
Dec. 31, 2019
|Property, Plant and Equipment [Abstract]|
|Property and Equipment, net||
Property and equipment, net consists of the following:
Depreciation expense was approximately $4,000 and $16,000 for the years ended December 31, 2019 and 2018, respectively. During the year ended December 31, 2019, the Company sold certain furniture and fixtures for $2,000 resulting in an approximate $2,000 gain. During the year ended December 31, 2018, the Company sold certain laboratory 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