PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS

9 Months Ended

Sep. 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 September 30, 2016 and December 31, 2015:

Property, equipment and leasehold improvements	September 30, 2016			December 31, 2015
Laboratory equipment	$	424,888		$	424,888
Manufacturing equipment		1,604,893			1,604,894
Computers, office equipment, and furniture		156,030			153,865
Computer software		4,108			4,108
Leasehold improvements		95,841			95,841
		2,285,760			2,283,596
Less: accumulated depreciation and amortization		(2,125,746	)		(2,026,179	)
Property, equipment and leasehold improvements, net	$	160,014		$	257,417

Depreciation expense on property, equipment and leasehold improvements was $33,237 and $41,973 for the three months ended September 30, 2016 and 2015, respectively, and was $99,567 and $146,500 for the nine months ended September 30, 2016 and 2015, respectively.