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Property and Equipment, Net
 6 Months Ended
Jun. 30, 2016
Property and Equipment, Net  
Property and Equipment, Net

3.Property and Equipment, Net

 

Property and equipment, net, consists of the following:

 

 

 

June 30,
2016

 

December 31,
2015

 

Office furniture and equipment

 

$
450,632

 

$
252,514

 

Construction in progress

 
7,882,997

 

—

 

 

 

 

 

 

 

Property and equipment, gross

 
8,333,629

 
252,514

 

Less: accumulated depreciation

 
(44,040

)
(16,924

)

 

 

 

 

 

 

Property and equipment, net

 

$
8,289,589

 

$
235,590

 

 

 

 

 

 

 

 

 

 

Depreciation expense was $16,071 and $1,519 for the three months ended June 30, 2016 and 2015, respectively, and $27,116 and $2,869 for the six months ended June 30, 2016 and 2015, respectively.

 

Construction in progress increased by $7,882,997 for the six months ended June 30, 2016.  This is primarily due to procurement of manufacturing equipment.