Registration of securities issued in business combination transactions

Property and Equipment

v3.23.2
Property and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Note 4 — Property and Equipment

Property and equipment consist of the following:

 

As of December 31,
   

2022

  

2021

Lab equipment

  

$

412,741

 

  

$

860,433

 

Computer and equipment

  

 

72,064

 

  

 

72,062

 

Total property and equipment

  

$

484,805

 

  

$

932,495

 

Less: accumulated depreciation

  

 

(419,296

)

  

 

(671,883

)

Total property and equipment, net

  

$

65,509

 

  

$

260,612

 

During the year December 31, 2022, the Company recognized a gain of approximately $6.0 thousand after selling unused equipment with a net book value of approximately $0.1 million for proceeds of $0.1 million net of selling expenses.

Depreciation expense related to property and equipment for the years ended December 31, 2022 and 2021 was $0.1 million and $0.1 million, respectively.