VolitionRx Ltd Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2012

The Company’s property and equipment consist of the following amounts as of December 31, 2012 and 2011:

					December 31,
					2011
			Accumulated		Net Carrying
	Cost		Depreciation		Value
	$		$		$
Computer hardware		30,824		15,382		15,442
Laboratory equipment		10,046		4,631		5,415
Office furniture and equipment		2,640		528		2,112

		43,510		20,541		22,969

					December 31,
					2012
			Accumulated		Net Carrying
	Cost		Depreciation		Value
	$		$		$
Computer hardware		54,404		28,093		26,311
Laboratory equipment		63,866		13,430		50,436
Office furniture and equipment		18,500		3,861		14,639

		136,770		45,384		91,386

During the years ended December 31, 2012 and 2011, the Company recognized $23,688 and $11,155 in depreciation expense respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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