v3.26.1
PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 7 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

        
   June 30, 2026   December 31, 2025 
         
Office equipment  $226,930   $182,600 
Lab equipment   12,665,291    12,096,036 
Furniture   84,392    66,438 
Leasehold improvements   477,385    440,855 
Software   178,684    133,377 
Equipment not yet placed in service   907,795    105,129 
    14,540,477    13,024,435 
Less: Accumulated depreciation   8,749,364    7,802,183 
           
Property and equipment, net  $5,791,113   $5,222,252 

 

Depreciation expense for the three months ended June 30, 2026 and 2025 was $471,639 and $461,228, respectively. Depreciation expense for the six months ended June 30, 2026 and 2025 was $949,475 and $889,680, respectively. During the three and six months ended June 30, 2026 and during the three months ended June 30, 2025, the Company did not retire or dispose of any 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.