Quarterly report pursuant to Section 13 or 15(d)

Property and equipment

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Property and equipment
 9 Months Ended
Mar. 31, 2017
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,
2017		     June 30,
2016		  
Research and development equipment   3 – 10 years   $ 768,923     $ 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  
          792,671       250,120  
Less: Accumulated depreciation         (104,509 )     (43,135 )
Total       $ 688,162     $ 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 $35,540 and $10,417 for the three months ended March 31, 2017 and 2016, respectively.

 

The Company recorded depreciation expense of $61,374 and $23,403 for the nine months ended March 31, 2017 and 2016, respectively.

 

As of March 31, 2017, research and development fixed assets totaling $39,116 were not placed in service and therefore not depreciated during the period.