Property and Equipment

12 Months Ended

Jun. 30, 2020

Property and Equipment

Property and Equipment

Note 5 – Property and Equipment

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

	June 30,		June 30,
	2020		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		5,756,956		5,748,318
Total Property and Equipment		14,100,815		14,092,177
Less Accumulated Depreciation		(4,556,384)		(3,864,930)
Property and Equipment, Net	$	9,544,431	$	10,227,247

Depreciation expense for the years ended June 30, 2020, 2019 and 2018 was $691,454,  $687,640 and $671,789, respectively.