Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.1
Property and Equipment
12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4 – Property and Equipment

 

Property and equipment consisted of the following:

 

               
    December 31, 2021   December 31, 2020
         
Computer and office equipment   $ 2,807     $ 2,807  
Lab equipment     15,606       15,606  
Furniture     43,705       43,705  
Leasehold improvements     450,374       422,318  
Machinery     627,641       623,190  
Subtotal     1,140,132       1,107,626  
Accumulated Depreciation     (286,842 )     (121,219 )
                 
Property and Equipment, net   $ 853,290     $ 986,407  

 

Depreciation and amortization expense related to property and equipment was approximately $166,000 and $111,000 for the years ended December 31, 2021 and 2020, respectively. For the year ended December 31, 2021, depreciation expense of approximately $36,000 was recorded within cost of sales, $29,000 recorded within general and administrative expenses, and $101,000 recorded within research and development. For the year ended December 31, 2020, depreciation expense of approximately $52,000 was recorded within cost of sales, $26,000 recorded within general and administrative expenses, and $23,000 recorded within research and development.