Property and Equipment

12 Months Ended

Dec. 31, 2021

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 estimated useful lives ranging generally from three to seven years. Expenditures for maintenance and repairs are charged to expense as incurred.

Property and equipment consisted of the following at:

	December 31,		December 31,
	2021		2020
Lab equipment	$	3,178,855	$	1,607,238
Computers		85,071		71,058
Furniture and fixtures		66,106		64,523
Leasehold improvements		22,563		22,563
Construction-in-process		309,620		—
Total		3,662,215		1,765,382
Accumulated depreciation		(1,503,736)		(1,089,120)
Property and equipment, net	$	2,158,479	$	676,262

Depreciation expense totaled $422,496 and $218,951 for the years ended December 31, 2021 and 2020, respectively.