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Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 4 - Property and Equipment

Property and equipment consisted of the following at December 31, 2018 and 2017:

				December 31,				December 31,
		Lives		2018				2017
Lab equipment		5 years		$	176,500			$	116,070
Office equipment & furniture		3 - 7 years			208,680				156,940
Less: accumulated depreciation					(266,381	)			(215,660	)
Property and equipment, net				$	118,799			$	57,350

In December 2018, the Company entered into a five-year capital lease agreement for office equipment and services for $906 per month. At December 31, 2018, the capitalized value associated with the lease agreement was $16,078.

Depreciation expense consisted of the following for the years ended December 31, 2018, 2017 and 2016, respectively:

		December 31,				December 31,				December 31,
		2018				2017				2016
Research & development		$	20,170			$	20,352			$	41,632
General administrative			30,551				35,586				35,891
Depreciation expense		$	50,721			$	55,938			$	77,523

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- References

No definition available.

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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

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