PROPERTY, EQUIPMENT and LEASEHOLD IMPROVEMENTS

9 Months Ended

Sep. 30, 2017

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, 2017 and December 31, 2016:

Property, equipment and leasehold improvements	September 30, 2017			December 31, 2016
Laboratory equipment	$	424,888		$	424,888
Manufacturing equipment		1,604,894			1,604,894
Computers, office equipment, and furniture		154,781			151,280
Computer software		4,108			4,108
Leasehold improvements		95,841			95,841
		2,284,512			2,281,011
Less: accumulated depreciation and amortization		(2,225,309	)		(2,154,270	)
Property, equipment and leasehold improvements, net	$	59,203		$	126,741

Depreciation expense on property, equipment and leasehold improvements was $5,481 and $33,237 for the three months ended September 30, 2017 and 2016, respectively, and was $71,039 and $99,567 for the nine months ended September 30, 2017 and 2016, respectively.