PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS

6 Months Ended

Jun. 30, 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 June 30, 2016 and December 31, 2015:

Property, equipment and leasehold improvements	June 30, 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		(2,092,509	)		(2,026,179	)
Property, equipment and leasehold improvements, net	$	191,087		$	257,417

Depreciation expense on property, equipment and leasehold improvements was $33,165 and $46,218 for the three months ended June 30, 2016 and 2015, respectively, and was $66,330 and $104,527 for the six months ended June 30, 2016 and 2015, respectively.