Fixed Assets

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Fixed Assets

. Fixed Assets

Fixed assets consist of the following:

	Estimated Useful Life (Years)	December 31,
		2023		2022
Computer and laboratory equipment	3	$	629,970	$	459,218
Furniture and equipment	3	33,104		33,104
Production equipment	7	296,180		296,180
Leasehold improvements	*	70,918		58,128
		1,030,172		846,630
Less – accumulated depreciation		(736,723)		(681,011)
		$	293,449	$	165,619

*Lesser of life of lease or estimated useful life.

Depreciation expense was $55,712 and $49,391 for 2023 and 2022, respectively. During 2022, the Company wrote off fully depreciated fixed assets no longer in service with a cost basis and accumulated depreciation of $674,520. It also disposed of assets with a cost basis of $6,875 and recognized a loss in this amount.