Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.8.0.1
Property and Equipment, Net
9 Months Ended
Sep. 30, 2017
Property and Equipment, Net [Abstract]  
Property and Equipment, Net

Note 5—Property and Equipment, Net

 

Property and equipment, net consisted of the following:

 

    September 30,
2017
    December 31,
2016
 
    (unaudited)        
Machinery and equipment   $ 4,309,000     $ 4,377,000  
Office furniture and fixtures     49,000       217,000  
Computer equipment and software     202,000       176,000  
Total cost     4,560,000       4,770,000  
Less accumulated depreciation     (1,816,000 )     (1,523,000 )
Net   $ 2,744,000     $ 3,247,000  

 

Assets recorded under capital leases and included in property and equipment in our balance sheets consist of the following:

 

    September 30,
2017
    December 31,
2016
 
    (unaudited)        
Machinery and equipment   $ 27,000     $ 27,000  
Computer equipment and software     84,000       59,000  
Total assets under capital lease     111,000       86,000  
Less accumulated amortization     (82,000 )     (71,000 )
Net assets under capital lease   $ 29,000     $ 15,000  

 

Depreciation expense for the three and nine months ended September 30, 2017 and 2016 consisted of the following:  

 

    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2017     2016     2017     2016  
Research and development   $ 81,000     $ 102,000     $ 282,000     $ 304,000  
General and administrative     5,000       29,000       56,000       88,000  
    $ 86,000     $ 131,000     $ 338,000     $ 392,000  

 

Amortization of assets under capital lease was $2,000 for the three months ended September 30, 2017 and 2016, respectively, and $3,000 for the nine months ended September 30, 2017 and 2016, respectively.