v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

8. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following at December 31, 2025 and 2024:

 

      December 31, 
   Depreciable lives  2025   2024 
Construction in process     $1,279,173   $1,351,179 
Manufacturing equipment  3-5 years   239,872    - 
Furniture, fixtures, and equipment  3-5 years   116,782    136,312 
Software  3 years   -    4,457 
Lab equipment  3-5 years   -    173,268 
Leasehold improvements  Life of lease   43,231    43,231 
       1,679,058    1,708,447 
Less: accumulated depreciation      (144,617)   (194,952)
Property and equipment, net     $1,534,441   $1,513,495 

 

The Company reviews long-lived assets for impairment when events, expectations, or changes in circumstances indicate that the asset’s carrying value may not be recoverable. During the year ended December 31, 2025, the Company made the decision to close its internal lab and transferred the related fixed assets with a net book value of $62,376 to a third party to be marketed and sold. The Company wrote-off $9,549 of lab equipment and recognized an impairment charge of $26,706, both of which are included in research and development expenses. As of December 31, 2025, the expected realizable value of the remaining assets held for sale of $22,770 is recorded as assets held for sale in the Company’s balance sheets.

 

Construction in process consists of symphony cartridge manufacturing equipment. The Company placed $239,872 of manufacturing equipment into service in 2025 and expects to place the remaining construction in process into service in 2026 to support its SYMON II clinical study. All of the Company’s construction in process and manufacturing equipment is held and operated by Sanyoseiko Co. LTD, its contract manufacturing organization in Japan.