Fixed Assets

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Fixed Assets

Note 4: Fixed Assets

Fixed Assets at September 30, 2019 and December 31, 2018 are summarized in the table below:

Description	Useful Life (Years)		September 30,  2019			December 31, 2018
Building		30	$	3,040,000		$	3,040,000
Machinery and Equipment		3 - 7		2,518,385			2,244,744
Furniture and Fixtures		7		146,404			126,654
Automobile		5		9,500			9,395
Leasehold Improvements		7 - 15		284,037			284,037
Total Fixed Assets				5,998,326			5,704,830
Less: Accumulated Depreciation				(2,019,011	)		(1,578,049	)
Land				460,000			460,000
Construction In Progress - Equipment				7,143,916			5,281,140
Fixed Assets, net			$	11,583,231		$	9,867,921

Depreciation expense for the three months ended September 30, 2019 and 2018 was approximately $149,000 and $157,000, respectively; and for the nine months ended September 30, 2019 and 2018, depreciation expense was approximately $450,000 and $463,000, respectively.  The additions to fixed assets during 2019 were primarily due to the USC relocation of the 503B operations into a new facility and the construction of the semi-automated assembly line for Symjepi which are expected to be completed in 2020.