| Property And Equipment |
Note 3 - Property and Equipment
The Company’s property and equipment consisted of the following amounts as of September 30, 2022 and December 31, 2021:
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September 30, |
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2022 |
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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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585,691 |
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433,718 |
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151,973 |
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Laboratory equipment |
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5 years |
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3,633,518 |
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1,639,545 |
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1,993,973 |
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Office furniture and equipment |
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5 years |
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316,956 |
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210,685 |
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106,271 |
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Buildings |
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30 years |
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1,873,543 |
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256,530 |
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1,617,013 |
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Building improvements |
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5-15 years |
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1,171,604 |
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277,625 |
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893,979 |
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Land |
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Not amortized |
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117,454 |
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- |
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117,454 |
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7,698,766 |
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2,818,103 |
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4,880,663 |
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December 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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599,944 |
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474,169 |
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125,775 |
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Laboratory equipment |
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5 years |
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3,032,108 |
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1,434,347 |
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1,597,761 |
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Office furniture and equipment |
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5 years |
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293,427 |
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213,244 |
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80,183 |
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Buildings |
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30 years |
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2,177,641 |
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243,750 |
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1,933,891 |
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Building improvements |
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5-15 years |
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1,293,258 |
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256,309 |
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1,036,949 |
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Land |
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Not amortized |
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136,518 |
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- |
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136,518 |
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7,532,896 |
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2,621,819 |
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4,911,077 |
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During the nine-month periods ended September 30, 2022 and September 30, 2021, the Company recognized $624,830 and $639,091, respectively, in depreciation expense.
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