Quarterly report pursuant to Section 13 or 15(d)

Equipment

v3.5.0.2
Equipment
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE F – Equipment
 
Fixed assets, summarized by major category, consist of the following ($ in thousands) for the nine months ended September 30, 2016 and year ended December 31, 2015:
 
 
 
September 30,
 
December 31,
 
 
 
2016
 
2015
 
Lab equipment
 
$
438
 
 
327
 
Furniture and fixtures
 
 
20
 
 
20
 
Equipment under capital lease
 
 
31
 
 
111
 
Leasehold improvements
 
 
7
 
 
7
 
Total
 
 
496
 
 
465
 
Less accumulated depreciation and amortization
 
 
127
 
 
87
 
Equipment, net
 
$
369
 
$
378
 
 
On February 12, 2016, the Company entered in a new 36 month capital lease for lab equipment. The payments under the lease are accounted for as interest and payments under capital lease using 3 year amortization. During the nine months ended September 30, 2016 the Company recognized interest expense of $1,353 associated with the lease payments.