Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2014

Note 4 – Property and Equipment

Property and equipment consisted of the following at December 31, 2014 and 2013:

			December 31,			December 31,
	Lives		2014			2013

Lab equipment		3 years	$	108,713		$	-
Office equipment		3 years		58,455			15,480
Less: accumulated depreciation				(39,468	)		(1,560	)
Property and equipment, net			$	127,700		$	13,920

Depreciation expense for the years ended December 31, 2014 and 2013 was $37,908 and $1,560, respectively. The Company wrote off certain undepreciated property and equipment during the year ended December 31, 2013 and recorded a loss of $4,122 on the disposition.

- Definition

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.

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