Property and Equipment

6 Months Ended

Jun. 30, 2011

3. Property and Equipment

Property and equipment consists of the following:

	December 31, 2010			June 30, 2011
				(Unaudited)
Laboratory equipment	$	2,389,339		$	2,564,225
Furniture and equipment		735,731			706,051
Leasehold improvements		194,899			194,899
Construction in Progress		—			379,288
Software development		107,062			181,299
Total		3,427,031			4,025,762
Less: Accumulated depreciation and amortization		(2,621,214	)		(2,718,249	)
Total property and equipment, net	$	805,817		$	1,307,513

Software development consist of various projects the Company currently has in various stages of development. The majority of the projects are estimated to be completed by year end, and at that time intangible assets will be created for each system and they will be amortized over their estimated useful lives. Depreciation expense, included in cost of revenue, general and administrative expenses, and research and development expenses, for the three months ended June 30, 2010 and 2011 was $85,175 and $72,985, respectively, and for the six months ended June 30, 2010 and 2011 was $167,702 and $171,985, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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