Property, Plant and Equipment

9 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT

The following table summarizes property, plant and equipment as of September 30, 2015 and December 31, 2014:

	As of September 30,			As of December 31,
	2015			2014
Building	$	5,828,960		$	5,828,960
Furniture, fixtures, computer hardware and computer software	480,976			475,266
Manufacturing machinery and equipment	31,317,710			31,227,523
Net depreciable property, plant and equipment	37,627,646			37,531,749
Manufacturing machinery and equipment in progress	—			66,703
Property, plant and equipment	37,627,646			37,598,452
Less: Accumulated depreciation and amortization	(27,153,276		)	(22,941,264		)
Net property, plant and equipment	$	10,474,370		$	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 September 30, 2015 and 2014 was $1,381,521 and $1,494,455, respectively. Depreciation expense for the nine months ended September 30, 2015 and 2014 was $4,212,012 and $4,456,145, respectively. Depreciation expense is recorded under “Depreciation and amortization expense” in the Condensed Consolidated Statements of Operations.