Property, Plant and Equipment

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

The following table summarizes property, plant and equipment as of March 31, 2015 and December 31, 2014:



	As of March 31,			As of December 31,
	2015			2014
Building	$	5,828,960		$	5,828,960
Furniture, fixtures, computer hardware and computer software	472,065			475,266
Manufacturing machinery and equipment	31,247,645			31,227,523
Net depreciable property, plant and equipment	37,548,670			37,531,749
Manufacturing machinery and equipment in progress	70,074			66,703
Property, plant and equipment	37,618,744			37,598,452
Less: Accumulated depreciation and amortization	(24,370,751		)	(22,941,264		)
Net property, plant and equipment	$	13,247,993		$	14,657,188

The Company analyzes its long-lived assets for impairment, both individually and as a group, whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.

Depreciation expense for the three months ended March 31, 2015 and 2014 was $1,429,487 and $1,467,746, respectively. Depreciation expense is recorded under “Depreciation and amortization expense” in the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details