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:
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.
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