Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.21.2
Property and Equipment
6 Months Ended
Jun. 30, 2021
Property and Equipment  
Note 3 - Property and Equipment

Note 3 - Property and Equipment

 

The Company's property and equipment consisted of the following amounts as of June 30, 2021 and December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

 

Accumulated

 

 

Net Carrying

 

 

 

 

 

 

Cost

 

 

Depreciation

 

 

Value

 

 

 

 

Useful Life

 

 $

 

 

 

 

$

 

Computer hardware and software

 

 

3 years

 

 

579,410

 

 

 

455,285

 

 

 

124,125

 

Laboratory equipment

 

 

5 years

 

 

3,026,194

 

 

 

1,271,580

 

 

 

1,754,614

 

Office furniture and equipment

 

 

5 years

 

 

297,841

 

 

 

193,087

 

 

 

104,754

 

Buildings

 

 

30 years

 

 

2,293,345

 

 

 

239,727

 

 

 

2,053,618

 

Building improvements

 

 

5-15 years

 

 

1,310,063

 

 

 

222,745

 

 

 

1,087,318

 

Land

 

 

Not amortized

 

 

142,217

 

 

 

-

 

 

 

142,217

 

 

 

 

 

 

 

7,649,070

 

 

 

2,382,424

 

 

 

5,266,646

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

Net Carrying

 

 

 

 

 

 

Cost

 

 

Depreciation

 

 

Value

 

 

 

 

Useful Life

 

 

 

 

 $

 

 

$

 

Computer hardware and software

 

 

3 years

 

 

550,254

 

 

 

412,805

 

 

 

137,449

 

Laboratory equipment

 

 

5 years

 

 

2,586,997

 

 

 

1,060,153

 

 

 

1,526,844

 

Office furniture and equipment

 

 

5 years

 

 

271,656

 

 

 

171,247

 

 

 

100,409

 

Buildings

 

 

30 years

 

 

2,366,236

 

 

 

207,111

 

 

 

2,159,125

 

Building improvements

 

 

5-15 years

 

 

1,285,383

 

 

 

184,813

 

 

 

1,100,570

 

Land

 

 

Not amortized

 

 

146,737

 

 

 

-

 

 

 

146,737

 

 

 

 

 

 

 

7,207,263

 

 

 

2,036,129

 

 

 

5,171,134

 

 

During the six-month periods ended June 30, 2021 and June 30, 2020, the Company recognized $425,187 and $316,405, respectively, in depreciation expense.