|3 Months Ended|
Mar. 31, 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 quarter ended March 31, 2016 and year ended December 31, 2015:
In 2014, the company entered a 24-month capital lease for lab equipment which had a buyout option of $1 at the end of lease in March 2016. This lease was capitalized. The payments under the lease were accounted for as interest and payments under capital lease using 2-year amortization. During the three months ended March 31, 2016 and 2015, the Company recognized interest expense of $50 and $325, respectively associated with the lease payments.
Depreciation expense for the three months ended March 31, 2016 and 2015 was approximately $13,000 and $11,000 respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef