XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2016
Property and Equipment, Net  
Property and Equipment, Net

 

3.Property and Equipment, Net

 

Property and equipment, net, consists of the following:

 

 

 

September 30,
2016

 

December 31,
2015

 

Office furniture and equipment

 

$
347,501

 

$
252,514

 

Construction in progress

 
16,533,947

 

—

 

 

 

 

 

 

 

Property and equipment, gross

 
16,881,448

 
252,514

 

Less: accumulated depreciation

 
(49,751

)
(16,924

)

 

 

 

 

 

 

Property and equipment, net

 

$
16,831,697

 

$
235,590

 

 

 

 

 

 

 

 

 

 

Depreciation expense was $5,711 and $2,951 for the three months ended September 30, 2016 and 2015, respectively, and $32,827 and $5,820 for the nine months ended September 30, 2016 and 2015, respectively.

 

Construction in progress increased by $16,533,947 for the nine months ended September 30, 2016.  This is primarily due to procurement of manufacturing equipment and construction within the Company’s Libertyville, Illinois manufacturing facility.