Property and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following as of December 31, 2013 and 2012:



	December 31,
	2013			2012
Leasehold improvements	$	2,319,928		$	1,022,230
Lab and clean room equipment	2,025,263			1,887,645
Furniture and equipment	1,240,466			431,563
Construction in Progress	802,319			10,027
Property and equipment, gross	6,387,976			3,351,465
Less accumulated depreciation	(2,301,870		)	(2,279,840		)
Property and equipment, net	$	4,086,106		$	1,071,625

Included in property and equipment is approximately $440,000 of capital leases. The corresponding liability is included in other liabilities in the accompanying condensed consolidated balance sheet. Also included is approximately $1.0 million in leasehold improvements paid for by the landlord of our new facility with a corresponding liability included in long term liabilities, which is amortized over the term of the lease.

Depreciation expense for the years ended December 31, 2013, 2012, and 2011 was approximately $637,000, $465,000, and $447,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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