Annual report pursuant to Section 13 and 15(d)

Note 5 - Property and Equipment

v3.19.1
Note 5 - Property and Equipment
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
Note
5.
Property and Equipment
The major classes of property and equipment
 
consist of the following at
December 31:
 
    2018   2017
Furniture and fixtures   $
35,407
    $
35,407
 
Computers and office equipment    
138,897
     
138,897
 
Lab equipment    
818,267
     
820,507
 
     
992,571
     
994,811
 
Less accumulated depreciation    
(902,260
)    
(821,925
)
Property and equipment, net   $
90,311
    $
172,886
 
 
The above includes approximately
$71,000
of equipment located at our research facility in China. Property and equipment are recorded at cost and are depreciated using the straight-line method over the estimated useful lives of the respective assets. Depreciation expense for the years ended
December 31, 2018
and
2017,
was approximately
$84,000
and
$100,000,
respectively