Quarterly report pursuant to Section 13 or 15(d)

Property and equipment

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Property and equipment
 6 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
Property and equipment

Note 4. Property and equipment

 

Property and equipment consisted of the following:  

 

        September 30,     March 31,  
    Estimated Useful Life   2015     2015  
Research and development equipment   3 – 10 years   $ 173,222     $ 66,095  
Computer equipment   5 years     13,718       4,367  
Furniture and fixtures    5 – 10 years     3,725       725  
Leasehold improvements   *     3,240       —  
          193,905       71,187  
Less: Accumulated depreciation         (12,837 )     (5,675 )
Total       $ 181,068     $ 65,512  

  

(*) Amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter.

 

The Company recorded depreciation expense of $4,530 and $1,731 for the three months ended September 30, 2015 and 2014, respectively. The Company recorded depreciation expense of $7,162 and $1,942 for the six months ended September 30, 2015 and the period May 12, 2014 (Inception) through September 30, 2014, respectively. 

 

As of September 30, 2015, research and development fixed assets totaling $55,000 were not placed in service and therefore not depreciated during the period.