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v3.23.3

Property and Equipment | 9 Months Ended
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Sep. 30, 2023
Property and Equipment |
Property And Equipment | No te 3 - Property and Equipment The Company’s property and equipment consisted of the following amounts as of September 30, 2023 and December 31, 2022:
|  |  |  |  |  |  |  |  |  | September 30, 2023 |
|  | Useful Life |  | Cost $ |  |  | Accumulated Depreciation $ |  |  | Net Carrying Value $ |
Computer hardware and software |  | 3 years |  |  | 695,883 |  |  |  | 565,533 |  |  |  | 130,350 |
Laboratory equipment |  | 5 years |  |  | 4,533,961 |  |  |  | 2,207,479 |  |  |  | 2,326,482 |
Office furniture and equipment |  | 5 years |  |  | 361,911 |  |  |  | 261,056 |  |  |  | 100,855 |
Buildings |  | 30 years |  |  | 2,026,448 |  |  |  | 344,987 |  |  |  | 1,681,461 |
Building improvements |  | 5-15 years |  |  | 1,326,435 |  |  |  | 387,818 |  |  |  | 938,617 |
Land |  | Not amortized |  |  | 127,040 |  |  |  | - |  |  |  | 127,040 |
|  |  |  |  | 9,071,678 |  |  |  | 3,766,873 |  |  |  | 5,304,805 |
|  |  |  |  |  |  |  |  |  |  |  | December 31, 2022 |
|  | Useful Life |  | Cost $ |  |  | Accumulated Depreciation $ |  |  | Net Carrying Value $ |
Computer hardware and software |  | 3 years |  |  | 656,759 |  |  |  | 497,306 |  |  |  | 159,453 |
Laboratory equipment |  | 5 years |  |  | 4,190,289 |  |  |  | 1,951,387 |  |  |  | 2,238,902 |
Office furniture and equipment |  | 5 years |  |  | 358,575 |  |  |  | 239,436 |  |  |  | 119,139 |
Buildings |  | 30 years |  |  | 2,054,332 |  |  |  | 298,397 |  |  |  | 1,755,935 |
Building improvements |  | 5-15 years |  |  | 1,317,132 |  |  |  | 326,337 |  |  |  | 990,795 |
Land |  | Not amortized |  |  | 128,788 |  |  |  | - |  |  |  | 128,788 |
|  |  |  |  | 8,705,875 |  |  |  | 3,312,863 |  |  |  | 5,393,012 |
During the nine-month periods ended September 30, 2023 and September 30, 2022, the Company recognized $792,232 and $624,830, respectively, in depreciation expense.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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