Matinas BioPharma Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Equipment

Equipment

12 Months Ended

Dec. 31, 2015

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 year ended:

	December 31,		December 31,
	2015		2014
Lab Equipment	$	327		245
Furniture and Fixtures		20		20
Capitalized Leased Equipment		111		111
Leasehold Improvements		7		7
Total		465		383
Less accumulated depreciation		87		43
Equipment, net	$	378	$	340

In 2014, the company entered a 24-month capital lease for lab equipment which has a buyout option of $1 at the end of lease. This lease was capitalized. The payments under the lease will be accounted for as interest and payments under capital lease using 2-year amortization. During the years ended December 31, 2015 and 2014, the Company recognized interest expense of $ 885 and $ 1,379, respectively associated with the lease payments. Depreciation expense for the years ended December 31, 2015 and 2014 was approximately $44 thousand and $42 thousand, respectively.