Note 3 - Fixed Assets

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 3 – FIXED ASSETS

The Company’s fixed assets consist of the following:

	As of September 30, 2022		As of December 31, 2021
Computers, software, and office equipment	$	539,036	$	517,488
Leasehold improvements		537,696		428,596
Laboratory equipment		3,685,560		3,456,091
Manufacturing tooling		121,120		121,120
Demo equipment		31,555		56,614
Total		4,914,967		4,579,909
Less: Accumulated depreciation and amortization		(2,712,865)		(2,068,338	)
Total Fixed Assets, Net	$	2,202,102	$	2,511,571

Depreciation expense was $227,135 and $237,742 for the three months ended September 30, 2022 and 2021, respectively and $669,686 and $720,736 for the nine months ended September 30, 2022 and 2021, respectively.