Property and Equipment

12 Months Ended

Dec. 31, 2018

Property and Equipment [Abstract]

Property and Equipment

Note 4 – Property and Equipment

Property and equipment is summarized as follows:

	December 31,
	2018			2017
Furniture and equipment	$	439,620		$	564,596
Leasehold Improvements		438,996			438,996
Construction in Process		-			2,725,569
		878,616			3,729,161
Less accumulated depreciation		(451,664	)		(305,281	)
Property and equipment, net	$	426,952		$	3,423,880

In March 2018, following the recommendation of the Data Monitoring Committee, the Company made the decision to close down the EG-1962 NEWTON 2 study. The Company believes that it would be highly unlikely that the Company would be able to use the manufacturing equipment associated with EG-1962 for future use. As a result, the Company has recorded a full equipment impairment charge in 2018 of $2,822,581.