v3.25.2
PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 Schedule of property and equipment        
   June 30, 2025   December 31, 2024 
         
Office equipment  $166,351   $155,511 
Lab equipment   11,819,801    10,953,487 
Furniture   66,438    54,493 
Leasehold improvements   440,855    432,400 
Software   133,377    133,377 
    12,626,822    11,729,268 
Less: Accumulated depreciation   6,902,263    6,037,723 
           
Property and equipment, net  $5,724,559   $5,691,545 

 

Depreciation expense for the three months ended June 30, 2025 and 2024 was $461,228 and $395,928, respectively. Depreciation expense for the six months ended June 30, 2025 and 2024 was $889,680 and $761,491, respectively. During the three months ended June 30, 2025, the Company did not dispose of or retire property and equipment. During the six months ended June 30, 2025, the Company traded in property and equipment with a cost and accumulated depreciation of $25,140 for a gain of $28,800. During the three months ended June 30, 2024, the Company retired fully depreciated property and equipment with the cost of $5,869. During the six months ended June 30, 2024, the Company retired property and equipment with a cost of $169,010 and accumulated depreciation of $165,844 for a loss of $3,166.