Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v3.7.0.1
Fixed Assets
 12 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 6 Fixed Assets
 
The following is a summary of fixed assets and accumulated depreciation:
 
 
 
Useful
 
 
 
 
 
 
 
 
 
Life
 
June 30, 2017
 
June 30, 2016
 
Furniture and fixtures
 
5 - 7 years
 
$
118,450
 
$
62,730
 
Lab equipment
 
3 - 15 years
 
 
3,946,040
 
 
3,585,590
 
Lab equipment (not yet placed in service)
 
3 - 15 years
 
 
-
 
 
4,025
 
Leasehold improvements
 
5- 7 years
 
 
3,247,038
 
 
3,211,575
 
 
 
 
 
 
7,311,528
 
 
6,863,920
 
Less: accumulated depreciation and amortization
 
 
 
 
(1,986,127)
 
 
(879,250)
 
 
 
 
 
$
5,325,401
 
$
5,984,670
 
 
Depreciation expense was $1,106,878 and $743,962 for the years ended June 30, 2017 and 2016, respectively.