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, 2016

The Company’s property and equipment consist of the following amounts as of December 31, 2016 and 2015:

					December 31,
					2016
			Accumulated		Net Carrying
	Cost		Depreciation		Value
	$		$		$
Computer equipment and computer software		157,002		68,229		88,773
Laboratory equipment		313,655		151,541		162,114
Equipment held under capital lease		578,830		183,296		395,534
Office furniture and equipment		32,932		23,361		9,571
Buildings		1,378,911		-		1,378,911
Land		84,124		-		84,124

		2,545,454		426,427		2,119,027

					December 31,
					2015
			Accumulated		Net Carrying
	Cost		Depreciation		Value
	$		$		$
Computer equipment and computer software		72,317		45,731		26,586
Laboratory equipment		319,209		108,589		210,620
Equipment held under capital lease		600,325		70,038		530,287
Office furniture and equipment		34,155		17,843		16,312
Buildings		-		-		-
Land		-		-		-

		1,026,006		242,201		783,805

On April 8, 2015 the Company entered into a five year capital lease to purchase three Tecan machines (automated liquid handling robots) for a total sum of $578,830 (€550,454).

Effective, October 25, 2016 the Company entered into a Real Estate Capital Lease Agreement to purchase real property for a total sum of $1,177,736 (€1,120,000). See Note 10(c), for additional details of the building purchase and the capital lease.

During the years ended December 31, 2016 and 2015, the Company recognized $222,944 and $150,439 in depreciation expense respectively.