Property and Equipment

6 Months Ended

Dec. 31, 2019

Property and Equipment

Property and Equipment

Note 5 - Property and Equipment

Property and equipment, stated at cost, less accumulated depreciation consisted of the following:

Property and equipment, stated at cost, less accumulated depreciation consisted of the following:

	December 31,		June 30,
	2019		2019
GMP Facility	$	8,020,471	$	8,020,471
Land		260,000		260,000
Office Equipment		57,781		57,781
Furniture and Fixtures		5,607		5,607
Lab Equipment		5,752,457		5,748,318
Total Property and Equipment		14,096,316		14,092,177
Less Accumulated Depreciation		(4,210,604)		(3,864,930)
Property and Equipment, Net	$	9,885,712	$	10,227,247

Depreciation expense for the three months ended December 31, 2019 and 2018 were $172,863 and $171,815, respectively, and for the six months ended December 31, 2019 and 2018 were $345,674 and $343,135, respectively.