Property and Equipment

6 Months Ended

Jun. 30, 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:

	June 30, 2016			December 31, 2015
Furniture and fixtures	$	55,883		$	55,883
Computers		36,467			40,545
Lab equipment		587,366			541,065
Total		679,716			637,493
Accumulated depreciation		(256,035	)		(191,760	)
Property and equipment, net	$	423,681		$	445,733

Depreciation expense was $65,553 and $53,937 for the six months ended June 30, 2016 and 2015, respectively.