Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

v3.8.0.1
Fixed Assets
 6 Months Ended
Dec. 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
 
December 31, 2017
 
June 30, 2017
 
Furniture and fixtures
 
 
5 - 7 years
 
$
118,450
 
$
118,450
 
Lab equipment
 
 
3 - 15 years
 
 
3,951,855
 
 
3,946,040
 
Leasehold Improvements
 
 
5 - 7 years
 
 
3,247,038
 
 
3,247,038
 
 
 
 
 
 
 
7,317,343
 
 
7,311,528
 
Less: accumulated depreciation and amortization
 
 
 
 
 
(2,519,520)
 
 
(1,986,127)
 
 
 
 
 
 
$
4,797,823
 
$
5,325,401
 
 
Depreciation expense was $266,781 and $278,074 for the three months ended December 31, 2017 and 2016, respectively and was $533,394 and $546,429 for the six months ended December 31, 2017 and 2016, respectively