Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.10.0.1
Property and Equipment
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Note 4 - Property and Equipment

The Company’s property and equipment consist of the following amounts as of June 30, 2018 and December 31, 2017:

 

                    June 30,  
                    2018  
              Accumulated     Net Carrying  
        Cost     Depreciation     Value  
    Useful Life   $     $     $  
Computer hardware and software   3 years     300,781       128,425       172,356  
Laboratory equipment   5 years     1,573,407       791,058       782,349  
Office furniture and equipment   5 years     200,205       56,001       144,204  
Buildings   30 years     1,533,006       68,123       1,464,883  
Building improvements   5-15 years     656,875       56,758       600,117  
Land   Not amortized     93,525             93,525  
                             
          4,357,799       1,100,365       3,257,434  
                             
                        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  

 

During the six-month periods ended June 30, 2018 and June 30, 2017, the Company recognized $271,347 and $183,323, respectively, in depreciation expense.