Fixed Assets

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 3 – Fixed Assets

Fixed assets are summarized as follows:

	September 30,			December 31,
	2018			2017
	(unaudited)
Machinery and equipment	$	832,000		$	801,000
Office furniture and equipment		177,000			167,000
Leasehold improvements		150,000			147,000
Right of use asset-operating leases		518,000			518,000
Accumulated depreciation and amortization		(1,315,000	)		(1,135,000	)
	$	362,000		$	498,000

The Company has a triple net operating lease for office and laboratory space in Seattle, Washington through March 2020 with rent of $12,000 per month plus triple net operating costs. The Company also has a triple net operating lease for office space in Tulsa, Oklahoma through August 2019 with monthly rent of $2,000 per month plus triple net operating costs. Both leases include lessee renewal options for three years at the then prevailing market rate.

Lease costs for the three and nine months ended September 30, 2018 and 2017 and other quantitative disclosures are as follows (unaudited):

	For the three months ended September 30,				For the nine months ended September 30,
	2018		2017		2018		2017
Lease cost:
Operating lease cost	$	52,000	$	94,000	$	158,000	$	209,000
Short-term lease cost		-		-		-		-
Total lease cost	$	52,000	$	94,000	$	158,000	$	209,000

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	130,000

For operating lease:
Weighted average remaining lease term (in years)		1.44
Weighted average discount rate		5.00	%

Minimum future payments under the Company’s leases at September 30, 2018 and their application to the corresponding lease liabilities are as follows (unaudited):

	Discounted lease liability payments		Payments due under lease agreements
2018	$	40,000	$	43,000
2019		158,000		164,000
2020		38,000		37,000
Total	$	236,000	$	244,000