| Property And Equipment |
Note 3 - Property and Equipment
The Company’s property and equipment consisted of the following amounts as of June 30, 2023 and December 31, 2022:
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June 30, 2023 |
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Useful Life |
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Cost $ |
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Accumulated Depreciation $ |
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Net Carrying
Value
$
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Computer hardware and software |
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3 years |
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701,965 |
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556,923 |
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145,042 |
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Laboratory equipment |
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5 years |
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4,416,852 |
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2,087,220 |
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2,329,632 |
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Office furniture and equipment |
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5 years |
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369,630 |
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262,134 |
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107,496 |
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Buildings |
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30 years |
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2,089,830 |
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338,369 |
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1,751,461 |
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Building improvements |
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5-15 years |
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1,367,922 |
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377,171 |
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990,751 |
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Land |
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Not amortized |
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131,013 |
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- |
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131,013 |
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9,077,212 |
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3,621,817 |
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5,455,395 |
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December 31, 2022 |
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Useful Life |
|
Cost $ |
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|
Accumulated Depreciation $ |
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Net Carrying
Value
$
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Computer hardware and software |
|
3 years |
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656,759 |
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497,306 |
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159,453 |
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Laboratory equipment |
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5 years |
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4,190,289 |
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1,951,387 |
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2,238,902 |
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Office furniture and equipment |
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5 years |
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358,575 |
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239,436 |
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119,139 |
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Buildings |
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30 years |
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2,054,332 |
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298,397 |
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1,755,935 |
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Building improvements |
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5-15 years |
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1,317,132 |
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326,337 |
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990,795 |
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Land |
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Not amortized |
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128,788 |
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- |
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128,788 |
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8,705,875 |
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3,312,863 |
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5,393,012 |
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During the six-month periods ended June 30, 2023 and June 30, 2022, the Company recognized $517,921 and $407,059, respectively, in depreciation expense.
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