| Property And Equipment |
Note 3 - Property and Equipment
The Company’s property and equipment consisted of the following amounts as of September 30, 2023 and December 31, 2022:
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September 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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695,883 |
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565,533 |
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130,350 |
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Laboratory equipment |
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5 years |
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4,533,961 |
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2,207,479 |
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2,326,482 |
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Office furniture and equipment |
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5 years |
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361,911 |
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261,056 |
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100,855 |
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Buildings |
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30 years |
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2,026,448 |
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344,987 |
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1,681,461 |
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Building improvements |
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5-15 years |
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1,326,435 |
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387,818 |
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938,617 |
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Land |
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Not amortized |
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127,040 |
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- |
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127,040 |
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9,071,678 |
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3,766,873 |
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5,304,805 |
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December 31,
2022
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Useful Life |
|
Cost $ |
|
|
Accumulated
Depreciation $
|
|
|
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 |
|
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 nine-month periods ended September 30, 2023 and September 30, 2022, the Company recognized $792,232 and $624,830, respectively, in depreciation expense.
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