v3.25.2
Property and Equipment
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Property, Plant and Equipment [Abstract]    
Property and Equipment

Note 3 – Property and Equipment

 

Property and equipment are carried at cost and consist of the following at June 30, 2025 and December 31, 2024:

        
   2025   2024 
         
Office and computer equipment  $29,264   $21,032 
Furniture and fixtures   113,069    96,818 
Lab equipment   170,423    170,423 
Leasehold improvements   502,155    502,155 
Less: Accumulated depreciation   (193,008)   (117,567)
  Total  $621,903   $672,861 

 

Leasehold improvements of $502,155 represent costs of the buildout of the leased laboratory in Iowa City, Iowa that was completed in January 2024.

 

Depreciation expense of $75,441 and $39,579 was charged to operations for the six months ended June 30, 2025 and 2024, respectively, and of $37,785 and $35,992 for the three months ended June 30, 2025 and 2024, respectively.

 

Note 4 – Property and Equipment

Property and equipment are carried at cost and consist of the following at December 31, 2024 and 2023:

         
   2024   2023 
Office and computer equipment  $21,032   $17,394 
Furniture and fixtures   96,818    76,099 
Lab equipment   170,423    — 
Leasehold improvements   502,155    482,170 
Less: Accumulated depreciation   (117,567)   (3,790)
Total  $672,861   $571,873 

Leasehold improvements of $502,155 represent costs of the buildout of the leased laboratory in Iowa City, Iowa that was completed in January 2024. Depreciation expense of $113,777 and $3,790 was charged to operations for the years ended December 31, 2024 and 2023, respectively.