PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

The following table summarizes property, plant and equipment as of September 30, 2019 and December 31, 2018:



	As of September 30,			As of December 31,
	2019			2018
Building	$	5,828,960		$	5,828,960
Furniture, fixtures, computer hardware and computer software	489,421			489,421
Manufacturing machinery and equipment	26,593,588			30,302,806
Depreciable property, plant and equipment	32,911,969			36,621,187
Less: Accumulated depreciation and amortization	(28,632,301		)	(32,207,829		)
Net property, plant and equipment	$	4,279,668		$	4,413,358

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.

During the nine months ended September 30, 2019, the Company disposed of certain redundant machinery and equipment. This machinery and equipment was fully depreciated and the Company realized a gain of $842,500 from these sales.

Depreciation expense for the three months ended September 30, 2019 and 2018 was $45,585 and $52,319, respectively. Depreciation expense for the nine months ended September 30, 2019 and 2018 was $140,083 and $169,621, respectively. Depreciation expense is recorded under “Depreciation and amortization expense” in the unaudited Condensed Consolidated Statements of Operations.