Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.7.0.1
Property and Equipment
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Note 4 - Property and Equipment

The Company’s property and equipment consist of the following amounts as of March 31, 2017 and December 31, 2016:

 

                March 31,  
                2017  
          Accumulated     Net Carrying  
    Cost     Depreciation     Value  
    $     $     $  
Computer hardware and software     155,992       69,746       86,246  
Laboratory equipment     678,468       175,708       502,760  
Equipment held under capital lease     587,973       215,590       372,383  
Office furniture and equipment     104,103       9,952       94,151  
Buildings     1,400,691       3,886       1,396,805  
Building improvements     419,701       2,294       417,407  
Land     85,453       -       85,453  
                         
      3,432,381       477,176       2,955,205  

   

                December 31,  
                2016  
          Accumulated     Net Carrying  
    Cost     Depreciation     Value  
    $     $     $  
Computer hardware and software     157,002       68,229       88,773  
Laboratory equipment     313,655       151,541       162,114  
Equipment held under capital lease     578,830       183,296       395,534  
Office furniture and equipment     32,932       23,361       9,571  
Buildings     1,378,911       -       1,378,911  
Building improvements     -       -       -  
Land     84,124       -       84,124  
                         
      2,545,454       426,427       2,119,027  

 

During the three month period ended March 31, 2017 and the three month period ended March 31, 2016, the Company recognized $72,357 and $50,691 respectively, in depreciation expense.