VolitionRx Ltd Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2017

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

						December 31,
						2017
				Accumulated		Net Carrying
		Cost		Depreciation		Value
	Useful Life	$		$		$
Computer hardware and software	3 years		239,133		93,422		145,711
Laboratory equipment	5 years		1,575,354		653,636		921,718
Office furniture and equipment	5 years		207,208		54,479		152,729
Buildings	30 years		1,571,004		43,632		1,527,372
Building improvements	5-15 years		673,157		35,748		637,409
Land	Not amortized		95,843		-		95,843

			4,361,699		880,917		3,480,782


						December 31,
						2016
				Accumulated		Net Carrying
		Cost		Depreciation		Value
	Useful Life	$		$		$
Computer hardware and software	3 years		157,002		68,229		88,773
Laboratory equipment	5 years		892,485		334,837		557,648
Office furniture and equipment	5 years		32,932		23,361		9,571
Buildings	30 years		1,378,911		-		1,378,911
Building improvements	5-15 years		-		-		-
Land	Not amortized		84,124		-		84,124

			2,545,454		426,427		2,119,027

Effective, October 25, 2016, the Company entered into a Real Estate Capital Lease Agreement to purchase real property for a total sum of €1,120,000 Euros. See Note 10(c) for additional details of the building purchase and the capital lease.

The majority of capital expenditures in 2017 related to €0.7 million Euros for building improvements in our laboratory and €0.7 million Euros related to new research and development laboratory equipment.

During the years ended December 31, 2017 and 2016, the Company recognized $454,490 and $222,944 in depreciation expense respectively.