NOTE 4 - PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 — PROPERTY AND EQUIPMENT

Property and equipment as of September 30, 2016 and December 31, 2015 is summarized as follows:

	September 30, 2016			December 31, 2015 (audited)
Laboratory and medical equipment	$	342,218		$	353,253
Furniture, fixtures and equipment		130,410			130,410
Computer equipment		48,788			48,788
Leasehold improvements		362,046			362,046
		883,462			894,497
Less accumulated depreciation and amortization		(860,635	)		(880,325	)
	$	22,827		$	14,172

Property and equipment are recorded on the basis of cost. For financial statement purposes, property, plant and equipment are depreciated using the straight-line method over their estimated useful lives.  During the nine months ended September 30, 2016, the Company sold fully depreciated equipment for net proceeds (and gain) of $500.

Expenditures for repair and maintenance which do not materially extend the useful lives of property and equipment are charged to operations. When property or equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the respective accounts with the resulting gain or loss reflected in operations. Management periodically reviews the carrying value of its property and equipment for impairment in accordance with the guidance for impairment of long lived assets.