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

12 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property and equipment

Note 4. Property and equipment

Property and equipment consisted of the following:

	Estimated Useful Life		March 31, 2016			March 31, 2015
Research and development equipment		3 – 10 years	$	192,672		$	66,095
Computer equipment		5 years		14,983			4,367
Furniture and fixtures		5 – 10 years		3,725			725
Leasehold improvements		*		3,240			—
				214,620			71,187
Less: Accumulated depreciation				(31,710	)		(5,675	)
Total			$	182,910		$	65,512

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

The Company recorded depreciation expense of $26,035 and $5,675 for the year ended March 31, 2016 and the period May 12, 2014 (Inception) through March 31, 2015, respectively.