Property and Equipment
|6 Months Ended|
Jun. 30, 2015
|Notes to Financial Statements|
|Note 4 - Property and Equipment||
The Companys property and equipment consist of the following amounts as of June 30, 2015 and December 31, 2014:
On April 8, 2015 the Company entered into a five year capital lease to purchase three Tecan machines (automated liquid handling robots) for a total sum of $610,674 (550,454).
During the six month period ended June 30, 2015 and the year ended December 31, 2014, the Company recognized $48,688 and $47,095 in depreciation expense respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef