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Property, Plant and Equipment, Net | 9 Months Ended
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Sep. 30, 2019
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, net |
7. | PROPERTY, PLANT AND EQUIPMENT, net
Property, plant and equipment consisted of the following:
|  | Estimated Useful Lives (in years) |  | As of September 30, 2019 |  |  | As of December 31, 2018 |
Buildings and improvements |  | 10-39 |  | $ | 17,078,829 |  |  | $ | 17,018,316 |
Laboratory and manufacturing equipment |  | 3-10 |  |  | 15,279,172 |  |  |  | 15,092,252 |
Office furniture and equipment |  | 3-10 |  |  | 731,397 |  |  |  | 731,510 |
Construction in progress |  | n/a |  |  | 477,400 |  |  |  | 91,067 |
Land |  | n/a |  |  | 516,867 |  |  |  | 516,867 |
Property, plant and equipment, gross |  |  |  |  | 34,083,665 |  |  |  | 33,450,012 |
Accumulated depreciation |  |  |  |  | (9,104,818 | ) |  |  | (7,422,463 | )
Property, plant and equipment, net |  |  |  | $ | 24,978,847 |  |  | $ | 26,027,549 |
As of September 30, 2019 and December 31, 2018, construction in progress consisted principally of down payments towards manufacturing equipment. During the three-month periods ended September 30, 2019 and 2018, $4,770 and $11,824 of property, plant and equipment was disposed of, respectively. During the nine-month periods ended September 30, 2019 and 2018, $11,164 and $18,554 of property, plant and equipment was disposed of, respectively. Depreciation expense was $562,722 and $377,828 during the three-month periods ended September 30, 2019 and 2018, respectively, and $1,691,049 and $938,416 during the nine-month periods ended September 30, 2019 and 2018, respectively.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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