PROPERTY AND EQUIPMENT
|12 Months Ended|
Dec. 31, 2017
|Property, Plant and Equipment [Abstract]|
|PROPERTY AND EQUIPMENT||
NOTE 3 - PROPERTY AND EQUIPMENT
Property and equipment was comprised of the following:
Depreciation expense for the years ended December 31, 2017 and 2016 was $641,300 and $647,000, respectively. For the year ended December 31, 2017 depreciation expense included in cost of goods sold and selling, general and administrative expenses was $551,400 and $89,900, respectively. For the year ended December 31, 2016 depreciation expense included in cost of goods sold and selling, general and administrative expenses was $548,900 and $98,100, respectively.
Depreciation expense on leased CoronaLux™ units included in accumulated depreciation and amortization above is $70,100 and $136,100 for the years ended December 31, 2017 and 2016, respectively.
Property and equipment includes the following amounts for leases that have been capitalized at December 31:
The capitalized leases have a security interest held by the lessor in their respective equipment.
The Company has evaluated its fixed assets and has determined that an impairment charge was required to two idle and one licensed CoronaLux™ units and five idle CoronaLux™ units of approximately $354,000 and $809,000 for the years ended December 31, 2017 and 2016, 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