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Property and Equipment
 6 Months Ended
Jun. 30, 2020
Property and Equipment  
Property and Equipment

6. 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 consist of the following at:

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

    

2020

    

2019

Lab equipment

 

$

1,496,969

 

$

1,311,853

Computers

 

 

62,380

 

 

53,065

Furniture and fixtures

 

 

62,747

 

 

50,453

Leasehold improvements

 

 

17,403

 

 

14,259

 

 

 

 

 

 

 

Total

 

 

1,639,499

 

 

1,429,630

Accumulated depreciation

 

 

(970,098)

 

 

(870,220)

 

 

 

 

 

 

 

Property and equipment, net

 

$

669,401

 

$

559,410

 

Depreciation expense was $56,670 and $99,242 for the three and six months ended June 30, 2020, respectively, and $54,826 and $122,012 for the three and six months ended June 30, 2019, respectively.