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Property and Equipment (Brooklyn ImmunoTherapeutics, LLC)
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Property and Equipment  
5. Fixed Assets, Net

 

Fixed assets are recorded at cost and consist of the following at December 31, 2019 and 2018:

 

    As of December 31,  
    2019     2018  
Site equipment   $ 8,856,000     $ 11,566,000  
Machinery and equipment     1,570,000       1,887,000  
Furniture and fixtures     314,000       461,000  
Leasehold improvements     1,240,000       1,240,000  
Vehicle     15,000       15,000  
      11,995,000       15,169,000  
Accumulated depreciation     (9,173,000 )     (10,502,000 )
Total   $ 2,822,000     $ 4,667,000  

 

Depreciation expense totaled $2,358,000 and $2,382,000 for the years ended December 31, 2019 and 2018, respectively.

 

The geographic breakdown of the Company’s long-term tangible assets for the last two fiscal years were as follows:

 

    As of December 31,  
    2019     2018  
United States   $ 2,760,000     $ 4,526,000  
Canada     62,000       141,000  
Total fixed assets   $ 2,822,000     $ 4,667,000  
Brooklyn Immunotherapeutics, LLC [Member]    
Property and Equipment
NOTE 6 PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

    September 30,     December 31,  
    2020     2019  
Laboratory and manufacturing equipment   $ 287,342     $ 261,164  
Leasehold improvements     414,504       414,504  
      701,846       675,668  
Less: accumulated depreciation and amortization     (94,814 )     (21,905 )
Property and equipment, net   $ 607,032     $ 653,763  

 

Depreciation expense charged to operations for the nine months ended September 30, 2020 was $72,909. Depreciation expense charged to operations for the nine months ended September 30, 2019 was $7,917.

NOTE 5 PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

    December 31,  
    2019     2018  
Laboratory and manufacturing equipment   $ 261,164     $ 69,597  
Leasehold improvements     414,504       -  
      675,668       69,597  
Less: accumulated depreciation and amortization     (21,905 )     (1,498 )
Property and equipment, net   $ 653,763     $ 68,099  

 

Depreciation expense charged to operations during the year ended December 31, 2019 was $20,407. Depreciation expense charged to operations was $1,498 and $6,888 and during the periods from November 6, 2018 through December 31, 2018 and from January 1, 2018 through November 5, 2018, respectively.

 

As of December 31, 2019, the Company has $64,461 of leasehold improvements that had not yet been placed into service. No depreciation expense is recorded on fixed assets in process until such time as the assets are completed and are placed into service. These fixed assets in process were placed into service on February 14, 2020.