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Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

(6) Property and Equipment

Property and equipment consisted of the following:

 Schedule of Property and Equipment

		December 31, 2021				December 31, 2020
Computer equipment and software		$	43,361			$	43,361
Lab and office equipment			1,056,523				1,048,932
Furniture and fixtures			51,404				51,404
Property, and equipment, gross			1,151,288				1,143,697
Less accumulated depreciation			(1,144,077	)			(1,143,697	)
Property, and equipment, net		$	7,211			$	-

Depreciation expense for the years ended December 31, 2021 and 2020 was approximately $400 and $4,000, respectively.

LIPOCINE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2021 and 2020

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- References

No definition available.

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- Definition

The entire disclosure for intangible assets and 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 350
-URI http://asc.fasb.org/topic&trid=2144416

Reference 2: 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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