Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Note 5 - Property and Equipment

v3.10.0.1
Note 5 - Property and Equipment
12 Months Ended
Nov. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment
  Computer equipment Computer software Furniture and fixtures Laboratory equipment Leasehold improvements Laboratory equipment under capital lease Computer equipment under capital lease Total
Cost                
Balance at November 30, 2016  $    295,296  $    124,151  $     129,860  $    3,933,693  $       1,205,811  $             276,300  $              76,458  $    6,041,569
Additions        235,454          31,908           42,638        1,353,110              235,641                          -                            -           1,898,751
Balance at November 30, 2017        530,750        156,059         172,498        5,286,803           1,441,452                 276,300                  76,458        7,940,320
Additions          20,336                 -                     -                80,842                        -                             -                            -              101,178
Balance at November 30, 2018        551,086        156,059         172,498        5,367,645           1,441,452                 276,300                  76,458        8,041,498
                 
Accumulated depreciation                
Balance at November 30, 2016        238,672        117,506         109,243        2,290,074           1,143,792                 179,422                  73,222        4,151,931
Depreciation          47,811          13,622           10,747           379,158                49,154                   19,376                       970           520,838
Balance at November 30, 2017        286,483        131,128         119,990        2,669,232           1,192,946                 198,798                  74,192        4,672,769
Depreciation          77,179          12,465           10,501           413,576                82,835                   15,500                       680           612,736
Balance at November 30, 2018        363,662        143,593         130,491        3,082,808           1,275,781                 214,298                  74,872        5,285,505
                 
Net book value at:                
November 30, 2017  $    244,267  $      24,931  $       52,508  $    2,617,571  $          248,506  $               77,502  $                2,266  $    3,267,551
Balance at November 30, 2018  $    187,424  $      12,466  $       42,007  $    2,284,837  $          165,671  $               62,002  $                1,586  $    2,755,993

 

As at November 30, 2018, there was $595,589 (November 30, 2017 - $728,309; November 30, 2016 - $266,963) of laboratory equipment that was not available for use and therefore, no depreciation has been recorded for such laboratory equipment.

 

As at November 30, 2018, there was $Nil (November 30, 2017 - $75,005) unpaid balance for purchased equipment. During the year ended November 30, 2018, the Company recorded depreciation expense within cost of goods sold of $2,352 (November 30, 2017 - $13,877; November 30, 2016 - $Nil).

Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Impairment is assessed by comparing the carrying amount of an asset with the sum of the undiscounted cash flows expected from its use and disposal, and as such requires the Company to make significant estimates on expected revenues from the commercialization of its products and services and the related expenses. The Company records a write-down for long-lived assets which have been abandoned and do not have any residual value. For the year ended November 30, 2018, the Company recorded a $Nil write-down of long-lived assets (2017 - $Nil; 2016 – $Nil).