Note 3 - Property And Equipment |
Note 3 - Property and Equipment The Company’s property and equipment consisted of the following amounts as of June 30, 2022 and December 31, 2021: | | | | | | | | June 30, | | | | | | | | | | 2022 | | | | | | | | Accumulated | | Net Carrying | | | | | | Cost | | Depreciation | | Value | | | | Useful Life | | $ | | $ | | $ | | Computer hardware and software | | 3 years | | 597,061 | | 440,563 | | 156,498 | | Laboratory equipment | | 5 years | | 3,291,800 | | 1,585,319 | | 1,706,481 | | Office furniture and equipment | | 5 years | | 321,356 | | 216,428 | | 104,928 | | Buildings | | 30 years | | 2,003,306 | | 257,610 | | 1,745,696 | | Building improvements | | 5-15 years | | 1,244,578 | | 276,041 | | 968,537 | | Land | | Not amortized | | 125,589 | | - | | 125,589 | | | | | | 7,583,690 | | 2,775,961 | | 4,807,729 | |
| | | | | | | | December 31, | | | | | | | | | | 2021 | | | | | | | | Accumulated | | Net Carrying | | | | | | Cost | | Depreciation | | Value | | | | Useful Life | | $ | | $ | | $ | | Computer hardware and software | | 3 years | | 599,944 | | 474,169 | | 125,775 | | Laboratory equipment | | 5 years | | 3,032,108 | | 1,434,347 | | 1,597,761 | | Office furniture and equipment | | 5 years | | 293,427 | | 213,244 | | 80,183 | | Buildings | | 30 years | | 2,177,641 | | 243,750 | | 1,933,891 | | Building improvements | | 5-15 years | | 1,293,258 | | 256,309 | | 1,036,949 | | Land | | Not amortized | | 136,518 | | - | | 136,518 | | | | | | 7,532,896 | | 2,621,819 | | 4,911,077 | |
During the six-month periods ended June 30, 2022 and June 30, 2021, the Company recognized $407,059 and $425,187, respectively, in depreciation expense.
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