Fixed Assets

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Fixed Assets

Note 4: Fixed Assets  

In the third quarter of 2017, certain USC operational assets stored at an off-site location in Arkansas were impaired. The off-site facility sustained flood damage.  Due to the standing water and humidity, it was determined that the equipment would not meet environmental quality standards required to compound either sterile or nonsterile pharmaceutical, drugs and formulations. Most of the equipment damaged was larger, bulky equipment including hoods, incubators, table presses, and lyophilizers. The Company recorded a loss on impairment of approximately $96,000 for the net book value of the damaged assets.

Fixed Assets at September 30, 2017 is summarized in the table below: 

Fixed Asset Description	Costs		Accumulated Depreciation			Net Book Value
Land	$	460,000	$	—		$	460,000
Building		3,040,000		(148,904	)		2,891,096
Machinery & Equipment		2,788,282		(673,479	)		2,114,803
Furniture & Fixtures		129,630		(50,197	)		79,433
Automobile		9,395		(5,594	)		3,801
Leasehold Improvements		284,037		(37,914	)		246,123
	$	6,711,344	$	(916,088	)	$	5,795,256

 For the three months and nine months ended September 30, 2017, depreciation and amortization expense was $139,045 and $462,246, respectively.