Property and Equipment
|9 Months Ended|
Sep. 30, 2016
|Notes to Financial Statements|
|Note 4 - Property and Equipment||
The Companys property and equipment consist of the following amounts as of September 30, 2016 and December 31, 2015:
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 $617,086 (550,454).
During the nine month period ended September 30, 2016 and the nine month period ended September 30, 2015, the Company recognized $165,293 and $99,851 respectively, in depreciation expense.
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