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Property and Equipment

9 Months Ended

Sep. 30, 2014

4. PROPERTY AND EQUIPMENT

		As at September 30, 2014
	*Useful* *Lives (yrs)*	*Cost*	*Accumulated Depreciation*	*Net Book Value*
Leasehold improvements	10	$ 84,816	$ 36,477	$ 48,339
Furniture & equipment	7	28,652	8,262	20,390
Lab equipment	5	14,448	5,626	8,822
Computer equipment	2.5	1,820	1,261	559
Total		$ 129,736	$ 51,626	$ 78,110

		As at December 31, 2013
	*Useful* *Lives (yrs)*	*Cost*	*Accumulated Depreciation*	*Net Book Value*
Leasehold improvements	10	$ 79,866	$ 28,516	$ 51,350
Furniture & equipment	7	20,001	5,659	14,342
Lab equipment	5	14,448	2,628	11,820
Computer equipment	2.5	1,820	1,096	724
Total		$ 116,135	$ 37,899	$ 78,236

During the three and nine months ended September 30, 2013 and 2014, the Company recorded depreciation expense of $5,235, $4,401, $14,584, and $13,137, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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