Annual report pursuant to Section 13 and 15(d)

Property and Equipment, net

v3.24.1
Property and Equipment, net
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

4. Property and Equipment, net

 

Property and equipment, net consists of the following as of December 31, 2023 and 2022:

 

    2023     2022  
Furniture and fixtures   $ -     $ 20,742  
Laboratory equipment     -       676,744  
Leasehold improvements     -       487,871  
Office and computer equipment     -       298,944  
Property and equipment, gross     -       1,484,301  
Accumulated depreciation and amortization     -       (1,363,239 )
Property and equipment, net   $ -     $ 121,062  

 

Depreciation and amortization expense for the years ending December 31, 2023 and 2022 was $27,391 and $44,667 respectively. In September of 2023 we terminated our lease for the building where some of our research and development activities for our lantibiotic program were undertaken. As a result, all our property and equipment assets were disposed of as of December 31, 2023. Our loss on the disposal of assets was approximately $52,000 offset by a gain on sale of assets of $22,443 for the fiscal year ending December 31, 2023.