PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

The carrying value of property and equipment included the following changes for the years ended December 31, 2022, 2021 and 2020:

In Thousands of US Dollars
	Laboratory Equipment		Computer Equipment		Office Equipment		Total
Cost
Balance at January 1, 2020	$	418	$	43	$	113	$	574
Additions		–		13		–		13
Disposals		–		–		–		–
Balance at December 31, 2020		418	$	56	$	113	$	587
Additions		–		3		3		6
Disposals		–		–		–		–
Balance at December 31, 2021		418	$	59	$	116	$	593
Additions		–		-		-		-
Disposals		–		–		–		–
Balance at December 31, 2022	$	418	$	59	$	116	$	593
Accumulated depreciation
Balance at January1, 2020		418		37		95	$	550
Depreciation for the year		–		4		5		9
Disposals		–		–		–		–
Balance at December 31, 2020	$	418	$	41	$	100	$	559
Depreciation for the year		–		7		5		12
Disposals		–		–		–		–
Balance at December 31, 2021		418	$	48	$	105	$	571
Depreciation for the year		–		5		7		12
Disposals		–		–		–		–
Balance at December 31, 2022	$	418	$	53	$	112	$	583
Carrying amounts
At December 31, 2020	$	-	$	15	$	13	$	28
At December 31, 2021	$	-	$	11	$	11	$	22
At December 31, 2022	$	-	$	6	$	4	$	10

The depreciation expense of property and equipment amounts to $11,784, $12,357 and $9,236 for the years ended December 31, 2022, 2021 and 2020, respectively. .