Quarterly report pursuant to Section 13 or 15(d)

Equipment

v3.7.0.1
Equipment
 3 Months Ended
Mar. 31, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE E – Equipment
 
Fixed assets, summarized by major category, consist of the following ($ in thousands) for the three months ended March 31, 2017 and year ended December 31, 2016:
 
 
 
March 31,
 
December 31,
 
 
 
2017
 
2016
 
Lab equipment
 
$
438
 
 
438
 
Furniture and fixtures
 
 
20
 
 
20
 
Equipment under capital lease
 
 
31
 
 
31
 
Leasehold improvements
 
 
7
 
 
7
 
Total
 
 
496
 
 
496
 
Less: accumulated depreciation and amortization
 
 
152
 
 
140
 
Equipment, net
 
$
344
 
$
356
 
 
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 three months ended March 31, 2017 the Company recognized interest expense of $504 associated with the lease payments.