v3.26.3
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

 

The carrying value of property and equipment included the following changes for the years ended December 31, 2025, 2024 and 2023:

 

In Thousands of US Dollars

 

 

Laboratory

Equipment

 

 

Computer Equipment

 

 

Office Equipment

 

 

Total

 

Cost

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2023

 

$418

 

 

$59

 

 

$116

 

 

$593

 

Additions

 

 

–

 

 

 

3

 

 

 

-

 

 

 

3

 

Disposals

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Balance at December 31, 2023

 

 

418

 

 

$62

 

 

$116

 

 

$596

 

Additions

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Disposals

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Balance at December 31, 2024

 

 

418

 

 

$62

 

 

$116

 

 

$596

 

Additions

 

 

–

 

 

 

1

 

 

 

-

 

 

 

1

 

Disposals

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Balance at December 31, 2025

 

$418

 

 

$63

 

 

$116

 

 

$597

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January1, 2023

 

 

418

 

 

 

53

 

 

 

112

 

 

$583

 

Depreciation for the year

 

 

–

 

 

 

7

 

 

 

4

 

 

 

11

 

Disposals

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Balance at December 31, 2023

 

$418

 

 

$60

 

 

$116

 

 

$594

 

Depreciation for the year

 

 

–

 

 

 

1

 

 

 

–

 

 

 

1

 

Disposals

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Balance at December 31, 2024

 

 

418

 

 

$61

 

 

$116

 

 

$595

 

Depreciation for the year

 

 

–

 

 

 

1

 

 

 

-

 

 

 

1

 

Disposals

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

Balance at December 31, 2025

 

$418

 

 

$62

 

 

$116

 

 

$596

 

Carrying amounts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2023

 

$-

 

 

$2

 

 

$-

 

 

$2

 

At December 31, 2024

 

$-

 

 

$1

 

 

$-

 

 

$1

 

At December 31, 2025

 

$-

 

 

$1

 

 

$-

 

 

$1

 

 

The depreciation expense of property and equipment amounts to $952, $1,273, and $10,744 for the years ended December 31, 2025, 2024 and 2023, respectively.