Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.4
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.