Stereotaxis
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10-K
STEREOTAXIS, INC. filed this Form 10-K on 03/15/2019
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5. Property and Equipment

 

Property and equipment consist of the following:

 

   December 31, 2018   December 31, 2017 
         
Equipment  $6,831,665   $7,295,698 
Leasehold improvements   2,592,339    2,592,339 
    9,424,004    9,888,037 
Less: Accumulated depreciation   (9,080,311)   (9,295,349)
Net property and equipment  $343,693   $592,688 

 

6. Intangible Assets

 

As of December 31, 2018 and 2017, the Company had total intangible assets of $3,049,810 and $3,143,291, respectively. Accumulated amortization at December 31, 2018 and 2017 was $3,049,810 and $2,983,821, respectively. Amortization expense for 2018 and 2017 was $65,988 and $199,321, respectively, as determined under the straight-line method. For the twelve months ended December 31, 2018 and 2017, the Company also recognized impairment charges of $93,482 and $77,778, respectively in research and development expense related to certain intellectual property rights. The impairment is the result of an analysis that indicated it was probable the undiscounted cash flows derived from the intellectual property would not exceed its book value during its remaining useful life.

 

7. Accrued Liabilities

 

Accrued liabilities consist of the following:

 

   December 31, 2018   December 31, 2017 
         
Accrued salaries, bonus, and benefits  $1,491,844   $1,641,491 
Accrued rent   69,826    441,417 
Accrued licenses and maintenance fees   576,598    581,672 
Accrued warranties   149,464    164,365 
Accrued taxes   251,988    234,668 
Accrued professional services   430,088    367,072 
Other   314,134    299,931 
Total accrued liabilities   3,283,942    3,730,616 
Less: Long term accrued liabilities   (641,461)   (535,369)
Total current accrued liabilities  $2,642,481   $3,195,247 

 

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