Note 3 - Property and Equipment |
The Company’s property and equipment consist of the following amounts as of March 31, 2020 and December 31, 2019:
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| March 31,
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| 2020
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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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| 444,944 |
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| 300,082 |
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| 144,862 |
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Laboratory equipment
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| 5 years
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| 2,219,840 |
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| 1,329,976 |
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| 889,864 |
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Office furniture and equipment
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| 5 years
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| 220,239 |
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| 122,440 |
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| 97,799 |
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Buildings
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| 30 years
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| 1,445,535 |
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| 148,546 |
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| 1,296,989 |
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Building improvements
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| 5-15 years
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| 706,929 |
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| 127,167 |
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| 579,762 |
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Land
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| Not amortized
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| 88,189 |
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| - |
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| 88,189 |
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| 5,125,676 |
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| 2,028,211 |
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| 3,097,465 |
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| December 31,
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| 2019
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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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| 426,461 |
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| 280,554 |
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| 145,907 |
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Laboratory equipment
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| 5 years
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| 2,052,348 |
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| 1,256,637 |
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| 795,711 |
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Office furniture and equipment
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| 5 years
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| 217,545 |
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| 114,242 |
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| 103,303 |
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Buildings
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| 30 years
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| 1,472,211 |
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| 139,021 |
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| 1,333,190 |
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Building improvements
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| 5-15 years
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| 630,824 |
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| 117,526 |
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| 513,298 |
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Land
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| Not amortized
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| 89,816 |
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| - |
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| 89,816 |
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| 4,889,205 |
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| 1,907,980 |
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| 2,981,225 |
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During the three-month periods ended March 31, 2020 and March 31, 2019, the Company recognized $158,768 and $145,683, respectively, in depreciation expense.
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