PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS

3 Months Ended

Mar. 31, 2016

PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS [Abstract]

PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS

NOTE 6. PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS

Property, equipment and leasehold improvements, net, consisted of the following at March 31, 2016 and December 31, 2015:

Property, equipment and leasehold improvements		March 31, 2016	December 31, 2015
	Laboratory equipment	$       424,888	$       424,888
	Manufacturing equipment	1,604,894	1,604,894
	Computers, office equipment, and furniture	153,865	153,865
	Computer software	4,108	4,108
	Leasehold improvements	95,841	95,841
		2,283,596	2,283,596
	Less: accumulated depreciation and amortization	(2,059,344)	(2,026,179)
	Property, equipment and leasehold improvements, net	$       224,252	$       257,417

Depreciation expense on property, equipment and leasehold improvements was $33,165 and $58,309 for the three months ended March 31, 2016 and 2015, respectively.