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Property and Equipment
 6 Months Ended
Dec. 31, 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:

 

 

 

 

 

 

 

 

 

    

December 31, 

    

June 30, 

 

 

2020

 

2020

 

 

 

 

 

 

 

GMP Facility

 

$

8,020,470

 

$

8,020,471

 

 

 

 

 

 

 

Land

 

 

260,000

 

 

260,000

 

 

 

 

 

 

 

Office Equipment

 

 

57,781

 

 

57,781

 

 

 

 

 

 

 

Furniture and Fixtures

 

 

5,607

 

 

5,607

 

 

 

 

 

 

 

Lab Equipment

 

 

5,794,608

 

 

5,756,956

 

 

 

 

 

 

 

Total Property and Equipment

 

 

14,138,466

 

 

14,100,815

 

 

 

 

 

 

 

Less Accumulated Depreciation

 

 

(4,900,592)

 

 

(4,556,384)

Property and Equipment, Net

 

$

9,237,874

 

$

9,544,431

 

 

Depreciation expense for the three months ended December 31, 2020 and 2019 were $172,934 and $172,863, respectively, and for the six months ended December 31, 2020 and 2019 were $348,096 and $345,764, respectively.