Property and Equipment

12 Months Ended

Dec. 31, 2023

Property and Equipment

Property And Equipment

Note 4 - Property and Equipment

The Company’s property and equipment consist of the following amounts as of December 31, 2023 and December 31, 2022:

					December 31, 2023
			Accumulated		Net Carrying
	Cost		Depreciation		Value
	$		$		$
Computer hardware and software		724,534		610,577		113,957
Laboratory equipment		4,753,253		2,491,149		2,262,104
Office furniture and equipment		378,800		280,396		98,404
Buildings		2,113,031		377,328		1,735,703
Building improvements		1,610,016		429,639		1,180,377
Land		132,468		-		132,468
		9,712,102		4,189,089		5,523,013
					December 31, 2022
			Accumulated		Net Carrying
	Cost		Depreciation		Value
		$	$			$
Computer hardware and software		656,759		497,306		159,453
Laboratory equipment		4,190,289		1,951,387		2,238,902
Office furniture and equipment		358,575		239,436		119,139
Buildings		2,054,332		298,397		1,755,935
Building improvements		1,317,132		326,337		990,795
Land		128,788		-		128,788
		8,705,875		3,312,863		5,393,012

During the years ended December 31, 2023 and December 31, 2022, the total capital expenditure was $1.1 million and $1.6 million, respectively, the majority of which was from purchases of laboratory equipment.

During the years ended December 31, 2023 and December 31, 2022, the Company recognized $1,080,475 and $865,262, respectively, in depreciation expense.