Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.10.0.1
Property and Equipment, Net
9 Months Ended
Sep. 30, 2018
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,
2018

(unaudited)

    December 31,
2017
 
Machinery and equipment   $ 4,225,000     $ 4,225,000  
Office furniture and fixtures     49,000       49,000  
Computer equipment and software     202,000       202,000  
Total cost     4,476,000       4,476,000  
Less accumulated depreciation     (2,056,000 )     (1,816,000 )
Net   $ 2,420,000     $ 2,660,000  

 

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

 

   

September 30,
2018

(unaudited)

    December 31,
2017
 
Machinery and equipment   $ 27,000     $ 27,000  
Computer equipment and software     25,000       39,000  
Total assets under capital lease     52,000       66,000  
Less accumulated amortization     (38,000 )     (41,000 )
Net assets under capital lease   $ 14,000     $ 25,000  

  

Depreciation expense for the three and nine months ended September 30, 2018 and 2017 consisted of the following:  

 

   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
    2018     2017     2018     2017  
Research and development   $ 77,000     $ 102,000     $ 231,000     $ 282,000  
General and administrative     3,000       29,000       9,000       56,000  
    $ 80,000     $ 131,000     $ 240,000     $ 338,000  

 

Amortization of assets under capital lease was $3,000 and $9,000 for the three and nine months ended September 30, 2018 and 2017, respectively.