| Property And Equipment |
Note 3 - Property and Equipment
The Company’s property and equipment consisted of the following amounts as of March 31, 2023 and December 31, 2022:
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March 31, 2023 |
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Useful Life |
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Cost
$
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Accumulated Depreciation
$
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Net Carrying
Value
$
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Computer hardware and software |
|
3 years |
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697,783 |
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529,486 |
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168,297 |
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Laboratory equipment |
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5 years |
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4,383,819 |
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2,152,765 |
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2,231,054 |
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Office furniture and equipment |
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5 years |
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365,224 |
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251,892 |
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113,332 |
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Buildings |
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30 years |
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2,081,130 |
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319,624 |
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1,761,506 |
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Building improvements |
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5-15 years |
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1,350,226 |
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352,987 |
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997,239 |
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Land |
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Not amortized |
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130,468 |
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- |
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130,468 |
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9,008,650 |
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3,606,754 |
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5,401,896 |
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December 31, 2022 |
|
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Useful Life |
|
Cost
$
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|
|
Accumulated Depreciation
$
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|
|
Net Carrying
Value
$
|
|
Computer hardware and software |
|
3 years |
|
|
656,759 |
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|
|
497,306 |
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|
159,453 |
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Laboratory equipment |
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5 years |
|
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4,190,289 |
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1,951,387 |
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|
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2,238,902 |
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Office furniture and equipment |
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5 years |
|
|
358,575 |
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239,436 |
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119,139 |
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Buildings |
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30 years |
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2,054,332 |
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298,397 |
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1,755,935 |
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Building improvements |
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5-15 years |
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1,317,132 |
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326,337 |
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990,795 |
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Land |
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Not amortized |
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128,788 |
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- |
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128,788 |
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8,705,875 |
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3,312,863 |
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5,393,012 |
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During the three-month periods ended March 31, 2023 and March 31, 2022, the Company recognized $250,861 and $202,423, respectively, in depreciation expense.
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