Property and Equipment

9 Months Ended

Mar. 31, 2021

Property and Equipment

Property and Equipment

Note 5 - Property and Equipment

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

	March 31,		June 30,
	2021		2020
GMP Facility	$	8,040,411	$	8,020,471
Land		260,000		260,000
Office Equipment		57,781		57,781
Furniture and Fixtures		5,607		5,607
Lab Equipment		5,885,223		5,756,956
Total Property and Equipment		14,249,024		14,100,815
Less Accumulated Depreciation		(5,074,669)		(4,556,384)
Property and Equipment, Net	$	9,174,355	$	9,544,431

Depreciation expense for the three months ended March 31, 2021 and 2020 were $174,076 and $172,862, respectively, and for the nine months ended March 31, 2021 and 2020 were $522,172 and $518,536, respectively.