Note 4 - Property and Equipment |
The
Companys property and equipment consist of the following amounts as of September 30, 2017 and December 31, 2016:
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September
30, |
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2017 |
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Accumulated |
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Net
Carrying |
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Cost |
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Depreciation |
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Value |
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Useful
Life |
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$ |
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$ |
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$ |
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Computer
hardware and software |
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3 years |
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267,773 |
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110,888 |
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156,885 |
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Laboratory
equipment |
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5 years |
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817,851 |
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262,517 |
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555,334 |
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Equipment
held under capital lease |
|
5 years |
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675,293 |
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307,562 |
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367,731 |
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Office
furniture and equipment |
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5 years |
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186,508 |
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27,643 |
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158,865 |
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Buildings |
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30 years |
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1,549,446 |
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30,096 |
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1,519,350 |
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Building
improvements |
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5 -15 years |
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683,820 |
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26,158 |
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657,662 |
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Land |
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Not amortized |
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94,528 |
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- |
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94,528 |
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4,275,219 |
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764,864 |
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3,510,355 |
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December
31, |
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2016 |
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Accumulated |
|
|
Net
Carrying |
|
|
|
|
|
Cost |
|
|
Depreciation |
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|
Value |
|
|
|
Useful
Life |
|
$ |
|
|
$ |
|
|
$ |
|
Computer
hardware and software |
|
3 years |
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155,870 |
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67,097 |
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88,773 |
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Laboratory
equipment |
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5 years |
|
|
313,655 |
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151,541 |
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|
162,114 |
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Equipment
held under capital lease |
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5 years |
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|
578,830 |
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183,296 |
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395,534 |
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Office
furniture and equipment |
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5 years |
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32,932 |
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23,361 |
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9,571 |
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Buildings |
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30 years |
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1,378,911 |
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- |
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1,378,911 |
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Building
improvements |
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5 -15 years |
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- |
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- |
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- |
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Land
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Not amortized |
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84,124 |
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- |
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84,124 |
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2,544,322 |
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425,295 |
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2,119,027 |
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During the
nine-month period ended September 30, 2017 and the nine-month period ended September 30, 2016, the Company recognized $306,180
and $165,293 respectively, in depreciation expense.
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