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Property and Equipment
 9 Months Ended
Sep. 30, 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 September 30, 2025 and December 31, 2024:

 

 

 

 

September 30,

2025

 

 

December 31,

2024

 

 

 

Useful Life

 

Cost $

 

 

Cost $

 

Computer hardware and software

 

3 years

 

 

747,661

 

 

 

701,505

 

Laboratory equipment

 

5 years

 

 

5,032,834

 

 

 

4,600,168

 

Office furniture and equipment

 

5 years

 

 

398,643

 

 

 

359,337

 

Buildings

 

30 years

 

 

2,245,896

 

 

 

1,981,247

 

Building improvements

 

5-15 years

 

 

1,935,069

 

 

 

1,637,139

 

Land

 

Not amortized

 

 

140,797

 

 

 

124,206

 

Total property and equipment

 

 

 

 

10,500,900

 

 

 

9,403,602

 

Less accumulated depreciation

 

 

 

 

6,257,414

 

 

 

4,974,450

 

Total property and equipment, net

 

 

 

 

4,243,486

 

 

 

4,429,152

 

 

During the nine-month periods ended September 30, 2025 and September 30, 2024, the Company recognized $735,018 and $815,824, respectively, in depreciation expense.