Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.21.2
Property and Equipment
9 Months Ended
Sep. 30, 2021
Property and Equipment  
Note 3 - Property and Equipment

Note 3 - Property and Equipment

 

The Company’s property and equipment consisted of the following amounts as of September 30, 2021 and December 31, 2020:

 

 

 

 

 

 

 

 

September 30,

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

Accumulated

 

 

Net Carrying

 

 

 

 

Cost

 

 

Depreciation

 

 

Value

 

 

 

Useful Life

 

 $

 

 

$

 

 

$

 

Computer hardware and software

 

3 years

 

 

586,119

 

 

 

460,004

 

 

 

126,115

 

Laboratory equipment

 

5 years

 

 

3,065,910

 

 

 

1,378,894

 

 

 

1,687,016

 

Office furniture and equipment

 

5 years

 

 

298,471

 

 

 

202,746

 

 

 

95,725

 

Buildings

 

30 years

 

 

2,240,235

 

 

 

253,222

 

 

 

1,987,013

 

Building improvements

 

5-15 years

 

 

1,285,339

 

 

 

238,925

 

 

 

1,046,414

 

Land

 

Not amortized

 

 

138,924

 

 

 

-

 

 

 

138,924

 

 

 

 

 

 

7,614,998

 

 

 

2,533,791

 

 

 

5,081,207

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

 

 

 

 

Accumulated

 

 

Net Carrying

 

 

 

 

 

Cost

 

 

Depreciation

 

 

Value

 

 

 

Useful Life

 

 

$

 

 

 $

 

 

$

 

Computer hardware and software

 

3 years

 

 

550,254

 

 

 

412,805

 

 

 

137,449

 

Laboratory equipment

 

5 years

 

 

2,586,997

 

 

 

1,060,153

 

 

 

1,526,844

 

Office furniture and equipment

 

5 years

 

 

271,656

 

 

 

171,247

 

 

 

100,409

 

Buildings

 

30 years

 

 

2,366,236

 

 

 

207,111

 

 

 

2,159,125

 

Building improvements

 

5-15 years

 

 

1,285,383

 

 

 

184,813

 

 

 

1,100,570

 

Land

 

Not amortized

 

 

146,737

 

 

 

-

 

 

 

146,737

 

 

 

 

 

 

7,207,263

 

 

 

2,036,129

 

 

 

5,171,134

 

 

During the nine-month periods ended September 30, 2021 and September 30, 2020, the Company recognized $639,091 and $459,450, respectively, in depreciation expense.