Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following:
March 31,
2020
December 31,
2019
Computer equipment and software $ 133,264    $ 126,643   
Research and development equipment 247,226    244,480   
Lab equipment 780,000    780,000   
Leasehold improvements 271,124    271,124   
Furniture 19,893    19,893   
Subtotal 1,451,507    1,442,140   
Less: accumulated depreciation (665,509)   (594,741)  
Total property and equipment, net $ 785,998    $ 847,399   
As of March 31, 2020 and December 31, 2019, the Company had $650,000 and $689,000, respectively, of lab equipment, net, in the field at clinical trial sites and held by a vendor for future clinical use. Depreciation of this equipment started when it was placed in service in June 2019.
Depreciation expense for the three months ended March 31, 2020 and 2019 was $70,767 and $29,703, respectively.