Property and Equipment

9 Months Ended

Sep. 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:

	September 30, 2016			December 31, 2015
Lab equipment	$	587,367		$	541,065
Furniture and fixtures		55,883			55,883
Computers		38,902			40,545
Total		682,152			637,493
Accumulated depreciation		(289,257	)		(191,760	)
Property and equipment, net	$	392,895		$	445,733

Depreciation expense was $98,774 and $84,373 for the nine months ended September 30, 2016 and 2015, respectively.