Annual report pursuant to Section 13 and 15(d)

Note 4 - Property and Equipment

v3.19.1
Note 4 - Property and Equipment
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
4.
Property and Equipment
 
Property and equipment consisted of the following:
 
   
December 31,
2018
   
December 31,
2017
 
Computer equipment and software
  $
105,704
    $
95,130
 
Lab equipment
   
1,024,480
     
241,377
 
Leasehold improvements
   
242,167
     
242,167
 
Furniture
   
19,893
     
19,893
 
Subtotal
   
1,392,244
     
598,567
 
Less: accumulated depreciation
   
(378,004
)
   
(261,841
)
Total property and equipment
 
$
1,014,240
   
$
336,726
 
 
As of
December 31, 2018,
the Company had
$680,000
of lab equipment held by a vendor for final testing. Depreciation of the equipment will start when they are placed in service in
2019.
 
Depreciation expense for the years ended
December 31, 2018
and
2017
was
$120,112
 and
$128,587,
respectively.