VOLITIONRX LTD PP&E Disclosure
Note 4 - Property and Equipment
The Company’s property and equipment consist of the following amounts as of December 31, 2021 and December 31, 2020:
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| December 31, 2021 |
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| Accumulated |
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| Net Carrying |
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| Cost |
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| Depreciation |
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| Value |
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| Useful Life |
| $ |
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| $ |
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| $ |
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Computer hardware and software |
| 3 years |
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| 599,944 |
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| 474,169 |
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| 125,775 |
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Laboratory equipment |
| 5 years |
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| 3,032,108 |
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| 1,434,347 |
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| 1,597,761 |
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Office furniture and equipment |
| 5 years |
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| 293,427 |
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| 213,244 |
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| 80,183 |
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Buildings |
| 30 years |
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| 2,128,729 |
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| 243,750 |
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| 1,884,979 |
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Building improvements |
| 5-15 years |
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| 1,293,258 |
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| 256,309 |
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| 1,036,949 |
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Land |
| Not amortized |
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| 185,430 |
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| - |
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| 185,430 |
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| 7,532,896 |
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| 2,621,819 |
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| 4,911,077 |
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| December 31, 2020 |
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| Accumulated |
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| Net Carrying |
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| Cost |
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| Depreciation |
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| Value |
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| Useful Life |
| $ |
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| $ |
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| $ |
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Computer hardware and software |
| 3 years |
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| 550,254 |
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| 412,805 |
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| 137,449 |
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Laboratory equipment |
| 5 years |
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| 2,586,997 |
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| 1,060,153 |
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| 1,526,844 |
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Office furniture and equipment |
| 5 years |
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| 271,656 |
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| 171,247 |
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| 100,409 |
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Buildings |
| 30 years |
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| 2,366,236 |
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| 207,111 |
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| 2,159,125 |
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Building improvements |
| 5-15 years |
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| 1,285,383 |
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| 184,813 |
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| 1,100,570 |
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Land |
| Not amortized |
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| 146,737 |
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| - |
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| 146,737 |
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| 7,207,263 |
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| 2,036,129 |
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| 5,171,134 |
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During the year ended December 31, 2021, the total capital expenditure was $1.0 million, the majority of which were purchases of laboratory equipment of $0.7 million.
During the years ended December 31, 2021 and December 31, 2020, the Company recognized $812,109 and $627,555, respectively, in depreciation expense.
During the year ended December 31, 2020, the Company sold laboratory equipment for cash proceeds of $293,312, resulting in a gain on disposal of equipment of $293,312.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2021 | Mar 30, 2022 | Showing above |
| 2020 | Mar 22, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Mar 13, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 10, 2017 | |
| 2015 | Mar 11, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.