v3.26.1
Fixed Assets
 3 Months Ended
Mar. 31, 2026
Fixed Assets [Abstract]  
FIXED ASSETS

NOTE 4 – FIXED ASSETS

 

The Company’s fixed assets include the following on March 31, 2026:

 

   Cost Basis   Accumulated
Depreciation		   Net 
Computers  $380,297   $(378,198)  $2,099 
Lab Equipment   2,296,914    (1,527,332)   769,582 
Office Furniture   53,750    (25,796)   27,954 
Other Fixed Assets   148,605    (144,092)   4,513 
Leasehold Improvements   90,779    (84,464)   6,315 
Total Fixed Assets  $2,970,345   $(2,159,882)  $810,463 

 

The Company’s fixed assets include the following on December 31, 2025:

 

   Cost Basis   Accumulated
Depreciation		   Net 
Computers  $381,157   $(378,646)  $2,511 
Lab Equipment   2,297,049    (1,468,647)   828,402 
Office Furniture   56,656    (26,910)   29,746 
Other Fixed Assets   136,939    (132,138)   4,801 
Leasehold Improvements   120,440    (105,659)   14,781 
Total Fixed Assets  $2,992,241   $(2,112,000)  $880,241 

 

Depreciation expense was $47,882 and $68,450 for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026 and December 31, 2025, the fixed assets that serve as collateral subject to the financed asset liability have a carrying value of $0 and $0, respectively. During the three months ended March 31, 2026, the Company recognized an impairment on its fixed assets of $32,275.

 

Fixed asset activity for the three months ended March 31, 2026 consisted of the following:

 

   For the
three months
ended
March 31,
2026		 
As of December 31, 2025  $2,992,241 
Purchases   10,379 
Impairment   (32,275)
As of March 31, 2026  $2,970,345