Property and Equipment, Net

12 Months Ended

Dec. 31, 2016

5. Property and Equipment, Net

Property and equipment, net, consists of the following:

	December 31, 2016			December 31, 2015
Office furniture, equipment and leasehold improvements	$	1,115,209		$	252,514
Construction in progress		23,161,828			0

Property and equipment, gross		24,277,037			252,514
Less: accumulated depreciation		(76,455	)		(16,924	)

Property and equipment, net	$	24,200,582		$	235,590

Depreciation expense was $64,630, $13,463 and $3,350 for the years ended December 31, 2016, 2015 and 2014, respectively.

Construction in progress increased by $23,161,828 for the year ended December 31, 2016. This is due to procurement of manufacturing equipment and construction within the Company's Libertyville, Illinois manufacturing facility. Non-cash capital expenditures included accounts payable and accrued expenses at December 31, 2016 was $4,871,547.