Equipment |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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. |
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