Post-effective amendment to a registration statement that is not immediately effective upon filing

Property and equipment

v3.6.0.2
Property and equipment
 3 Months Ended 12 Months Ended
Sep. 30, 2016
Jun. 30, 2016
Property, Plant and Equipment [Abstract]    
Property and equipment

Note 4. Property and equipment

 

Property and equipment consisted of the following:

 

    Estimated
Useful Life		   September 30,
2016		     June 30,
2016		  
Research and development equipment   3 – 10 years   $ 246,665     $ 226,372  
Computer equipment   5 years     16,783       16,783  
Furniture and fixtures   5 – 10 years     3,725       3,725  
Leasehold improvements   *     3,240       3,240  
          270,413       250,120  
Less: Accumulated depreciation         (56,020 )     (43,135 )
Total       $ 214,393     $ 206,985  

 

(*) 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 $12,885 and $4,530 for the three months ended September 30, 2016 and 2015, respectively.

 

As of September 30, 2016, research and development fixed assets totaling $6,505 were not placed in service and therefore not depreciated during the period. 

Note 4. Property and equipment

 

Property and equipment consisted of the following:

 

    Estimated
Useful Life		   June 30,
2016		     June 30,
2015		     March 31,
2016		     March 31,
2015		  
Research and development equipment   3 – 10 years   $ 226,372     $ 70,091     $ 192,672     $ 66,095  
Computer equipment   5 years     16,783       12,892       14,983       4,367  
Furniture and fixtures   5 – 10 years     3,725       3,725       3,725       725  
Leasehold improvements   *     3,240       3,240       3,240       —  
          250,120       89,948       214,620       71,187  
Less: Accumulated depreciation         (43,135 )     (8,307 )     (31,710 )     (5,675 )
Total       $ 206,985     $ 81,641     $ 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 $11,425 for three months ended June 30, 2016. The Company recorded depreciation expense of $34,828, $8,090, $26,035 and $5,675 for the years ended June 30, 2016, June 30, 2015 and March 31, 2016 and the period May 12, 2014 (Inception) through March 31, 2015, respectively.