Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v3.3.0.814
Fixed Assets
12 Months Ended
Jun. 30, 2015
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, 2015
 
June 30, 2014
 
Furniture and fixtures
 
5 - 7 years
 
$
55,330
 
$
6,728
 
Lab equipment
 
3 - 15 years
 
 
889,672
 
 
315,951
 
Lab equipment (not yet placed in service)
 
3 - 15 years
 
 
1,371,440
 
 
-
 
Leasehold Improvements
 
3 - 7 years
 
 
29,296
 
 
-
 
Construction in process
 
-
 
 
2,315,803
 
 
23,012
 
 
 
 
 
 
4,661,541
 
 
345,691
 
Less: accumulated depreciation and amortization
 
 
 
 
(136,629)
 
 
(7,759)
 
 
 
 
 
$
4,524,912
 
$
337,932
 
 
Depreciation expense was $128,870 and $7,759 for the years ended June 30, 2015 and 2014, respectively.