Property and Equipment

3 Months Ended

Mar. 31, 2024

Property and Equipment

Property And Equipment

Note 3 - Property and Equipment

The Company’s property and equipment consisted of the following amounts as of March 31, 2024 and December 31, 2023:

		March 31, 2024		December 31, 2023
	Useful Life	Cost $		Cost $
Computer hardware and software	3 years		723,899		724,534
Laboratory equipment	5 years		4,695,842		4,753,253
Office furniture and equipment	5 years		375,815		378,800
Buildings	30 years		2,069,344		2,113,031
Building improvements	5-15 years		1,576,729		1,610,016
Land	Not amortized		129,729		132,468
Total property and equipment			9,571,358		9,712,102
Less accumulated depreciation			4,390,807		4,189,089
Total property and equipment net			5,180,551		5,523,013

During the three-month periods ended March 31, 2024 and March 31, 2023, the Company recognized $277,501 and $250,861, respectively, in depreciation expense.