Quarterly report pursuant to Section 13 or 15(d)

Property and equipment

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Property and equipment
 6 Months Ended
Dec. 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		   December 31,
2016		     June 30,
2016		  
Research and development equipment   3 – 10 years   $ 670,801     $ 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  
          694,549       250,120  
Less: Accumulated depreciation         (68,969 )     (43,135 )
Total       $ 625,580     $ 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 $12,949 and $8,456 for the three months ended December 31, 2016 and 2015, respectively.

 

The Company recorded depreciation expense of $25,834 and $12,986 for the six months ended December 31, 2016 and 2015, respectively.

 

As of December 31, 2016, research and development fixed assets totaling $432,631 were not placed in service and therefore not depreciated during the period.