Property and Equipment

3 Months Ended

Mar. 31, 2025

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, 2025 and December 31, 2024:

		March 31, 2025		December 31, 2024
	Useful Life	Cost $		Cost $
Computer hardware and software	3 years		727,262		701,505
Laboratory equipment	5 years		4,747,553		4,600,168
Office furniture and equipment	5 years		372,712		359,337
Buildings	30 years		2,071,304		1,981,247
Building improvements	5-15 years		1,711,554		1,637,139
Land	Not amortized		129,852		124,206
Total property and equipment			9,760,237		9,403,602
Less accumulated depreciation			5,411,921		4,974,450
Total property and equipment, net			4,348,316		4,429,152

During the three-month periods ended March 31, 2025 and March 31, 2024, the Company recognized $246,248 and $277,501, respectively, in depreciation expense.