Property and equipment are depreciated over the estimated useful lives of assets as follows:
|
|
Software |
|
5 years |
|
|
Computer equipment |
|
3 years |
|
|
Furniture and fixtures |
|
5 years |
|
|
Laboratory equipment |
|
5 years |
Property and equipment consisted of the following at June 30, 2012 and 2011:
|
|
|
|
2012 |
|
|
2011 |
|
|
||
|
|
Software |
|
$ |
61,250 |
|
|
$ |
13,650 |
|
|
|
|
Computer equipment |
|
|
3,466 |
|
|
|
3,466 |
|
|
|
|
Furniture and fixtures |
|
|
239 |
|
|
|
239 |
|
|
|
|
Laboratory equipment |
|
|
6,193 |
|
|
|
6,193 |
|
|
|
|
|
|
|
71,148 |
|
|
|
23,548 |
|
|
|
|
Less accumulated depreciation |
|
|
(5,673 |
) |
|
|
(1,249 |
) |
|
|
|
|
|
$ |
65,475 |
|
|
$ |
22,299 |
|
|