NOTE 5 — FIXED ASSETS:

Fixed assets consist of the following at:

	December 31, 2017			December 31, 2016
Machinery and equipment	$	4,582,759		$	3,962,051
Furniture and fixtures		449,548			437,962
Computer and telephone equipment		422,946			343,167
Leasehold improvements		2,258,779			2,012,945
		7,714,032			6,756,125
Less accumulated depreciation and amortization		(5,804,800	)		(5,046,804	)
	$	1,909,232		$	1,709,321

There were no capital leases at the end of December 31, 2017. Fixed assets at December 31, 2017 also include $538,406 in equipment, that is undergoing validation and as such is not yet being depreciated. Depreciation expense for the 2017, 2016 and 2015 years aggregated $727,563, $782,711 and $893,305, respectively.

As of December 31, 2017 and 2016, the Company had paid deposits on various pieces of equipment classified within Deposits and Other Assets aggregating $257,455 and $31,900, respectively.