Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

v3.7.0.1
Fixed Assets
 9 Months Ended
Mar. 31, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 4 Fixed Assets
 
The following is a summary of fixed assets and accumulated depreciation:
 
 
 
Useful
 
 
 
 
 
 
 
 
Life
 
March 31, 2017
 
 
June 30, 2016
 
Furniture and fixtures
 
5 - 7 years
 
$
75,034
 
 
$
62,730
 
Lab equipment
 
3 - 15 years
 
 
3,847,550
 
 
 
3,589,615
 
Leasehold Improvements
 
5 - 7 years
 
 
3,247,038
 
 
 
3,211,575
 
 
 
 
 
 
7,169,622
 
 
 
6,863,920
 
Less: accumulated depreciation and amortization
 
 
 
 
(1,708,508)
 
 
 
(879,250)
 
 
 
 
 
$
5,461,114
 
 
$
5,984,670
 
 
Depreciation expense was $282,829 and $256,404 for the three months ended March 31, 2017 and 2016, respectively and was $829,258 and $476,941 for the nine months ended March 31, 2017 and 2016, respectively.