PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2015

Property And Equipment

PROPERTY AND EQUIPMENT

(3)  PROPERTY AND EQUIPMENT

The principal categories and estimated useful lives of property and equipment were:

	2015		2014		Estimated Useful Lives
Computer equipment	$	306,681	$	334,865		3
Office and laboratory equipment		688,804		740,177		3-5
Furniture and fixtures		466,454		755,444		7
Manufacturing equipment		97,986		111,980		5
Leasehold improvements		10,815		825,589		3 - 7
Total property and equipment		1,570,740		2,768,055
Less accumulated depreciation and amortization		1,127,294		1,629,462
Property and equipment, net	$	443,446	$	1,138,593

The Company recorded a loss on disposal of $239,434, primarily in connection with its corporate office relocation to Iselin, New Jersey in the first quarter and research facility relocation to Littleton, Massachusetts. The Company sold excess furniture to the incoming tenant and this resulted in an increase in the loss on disposal. Additionally, each relocation required the Company to write-off its leasehold improvements. See Note 5.