| Note 3 - Property and Equipment |
The Company’s property and equipment consisted of the following amounts as of March 31, 2021 and December 31, 2020: |
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| March 31,
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| 2021
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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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| 552,493
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| 426,996
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| 125,497
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| Laboratory equipment
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| 5 years
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| 2,865,730
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| 1,139,320
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| 1,726,410
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| Office furniture and equipment
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| 5 years
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| 280,690
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| 177,367
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| 103,323
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| Buildings
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| 30 years
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| 2,270,508
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| 218,222
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| 2,052,286
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| Building improvements
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| 5-15 years
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| 1,298,124
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| 199,101
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| 1,099,023
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| Land
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| Not amortized
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| 142,859
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| -
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| 142,859
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| 7,410,404
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| 2,161,006
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| 5,249,398
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| December 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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| 550,254
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| 412,805
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| 137,449
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| Laboratory equipment
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| 5 years
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| 2,586,997
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| 1,060,153
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| 1,526,844
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| Office furniture and equipment
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| 5 years
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| 271,656
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| 171,247
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| 100,409
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| Buildings
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| 30 years
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| 2,366,236
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| 207,111
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| 2,159,125
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| Building improvements
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| 5-15 years
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| 1,285,383
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| 184,813
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| 1,100,570
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| Land
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| Not amortized
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| 146,737
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| -
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| 146,737
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| 7,207,263
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| 2,036,129
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| 5,171,134
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During the three month periods ended March 31, 2021 and March 31, 2020, the Company recognized $204,049 and $158,768, respectively, in depreciation expense.
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