Fixed Assets

6 Months Ended

Jun. 30, 2022

Fixed Assets

Fixed Assets

Note 3 – Fixed Assets

Fixed assets are recorded based on acquisition cost and once placed in service, are depreciated utilizing the straight-line method over their estimated economic useful lives. Leasehold improvements are accreted over the shorter of the estimated economic life or related lease term. Fixed assets, net of accumulated depreciation and amortization, consist of the following:

	Estimated
	Useful Lives
	(in Years)	June 30, 2022		December 31, 2021
Leasehold improvements	10	$	6,075,000	$	6,075,000
Manufacturing facility/clean room	3 - 8		2,984,000		2,984,000
Lab equipment and office furniture	5 - 8		1,739,000		1,739,000
Fixed assets, gross			10,798,000		10,798,000
Accumulated depreciation			(8,752,000)		(8,234,000)
Fixed assets, net		$	2,046,000	$	2,564,000

Depreciation and amortization expense for the respective periods is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Depreciation and amortization expense	$	256,000	$	274,000	$	518,000	$	568,000