Property and Equipment

3 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

4. Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method, over the estimated useful lives, ranging generally from five to seven years. Expenditures for maintenance and repairs are charged to expense as incurred. 

Property and equipment consisted of the following:

	March 31, 2016			December 31, 2015
Furniture and fixtures	$	55,883		$	55,883
Computers		41,373			40,545
Lab equipment		571,232			541,065
Total		668,488			637,493
Accumulated depreciation		(224,121	)		(191,760	)
Property and equipment, net	$	444,367		$	445,733

Depreciation expense was $32,361 and $25,612 for the three months ended March 31, 2016 and 2015, respectively.