| Note 3 - Property And Equipment |
Note 3 - Property and Equipment
The Company’s property and equipment consisted of the following amounts as of March 31, 2022 and December 31, 2021:
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March 31, |
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2022 |
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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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589,517 |
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445,310 |
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144,207 |
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Laboratory equipment |
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5 years |
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3,019,021 |
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1,531,605 |
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1,487,416 |
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Office furniture and equipment |
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5 years |
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309,799 |
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219,544 |
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90,255 |
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Buildings |
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30 years |
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2,123,879 |
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255,424 |
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1,868,455 |
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Building improvements |
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5-15 years |
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1,268,648 |
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271,064 |
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997,584 |
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Land |
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Not amortized |
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133,148 |
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- |
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133,148 |
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7,444,012 |
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2,722,947 |
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4,721,065 |
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December 31, |
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2021 |
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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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599,944 |
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474,169 |
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125,775 |
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Laboratory equipment |
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5 years |
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3,032,108 |
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1,434,347 |
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1,597,761 |
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Office furniture and equipment |
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5 years |
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293,427 |
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213,244 |
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80,183 |
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Buildings |
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30 years |
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2,177,641 |
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243,750 |
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1,933,891 |
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Building improvements |
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5-15 years |
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1,293,258 |
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256,309 |
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1,036,949 |
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Land |
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Not amortized |
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136,518 |
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- |
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136,518 |
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7,532,896 |
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2,621,819 |
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4,911,077 |
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During the three-month periods ended March 31, 2022 and March 31, 2021, the Company recognized $202,423 and $204,049, respectively, in depreciation expense.
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