Akoustis Technologies, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Property and equipment

Property and equipment

3 Months Ended

11 Months Ended

Jun. 30, 2015

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property and equipment

Note 4. Property and equipment

Property and equipment consisted of the following:

		June 30,			March 31,
	Estimated Useful Life	2015			2015
Research and development equipment	3 – 10 years	$	70,091		$	66,095
Computer equipment	5 years		12,892			4,367
Furniture and fixtures	5 – 10 years		3,725			725
Leasehold improvements	39 years		3,240			—
			89,948			71,187
Less: Accumulated depreciation			(8,307	)		(5,675	)
Total		$	81,641		$	65,512

The Company recorded depreciation expense of $2,632 and $211 for the three months ended June 30, 2015 and the period May 12, 2014 (Inception) through June 30, 2014, respectively.

Note 4. Property and equipment

Property and equipment consisted of the following:

	March 31,
	2015
Research and development equipment	$	66,095
Computer equipment		4,367
Furniture and fixtures		725
		71,187
Less: Accumulated depreciation		(5,675	)
Total	$	65,512

The Company recorded depreciation expense of $5,675 for the period ended March 31, 2015.