Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.3
Property and Equipment
6 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment

Property and equipment is composed of the following at September 30, 2019 and March 31, 2019:

 

     September 30,      March 31,  
     2019      2019  
             
 Laboratory equipment   $ 892,500     $ 892,500  
 Tenant improvements     214,400       214,400  
 Computers and network equipment     54,600       54,600  
 Office furniture and equipment     84,600       84,600  
      1,246,100       1,246,100  
 Accumulated depreciation and amortization     (985,500 )     (933,400 )
 Property and equipment, net   $ 260,600     $ 312,700  

 

Included in amounts reported above for office furniture and equipment is the right-of-use asset related to a financing lease of certain office equipment. Amounts associated with assets subject to the financing lease at September 30, 2019 and March 31, 2019 are as follows:

 

     September 30,      March 31,  
     2019      2019  
             
 Office equipment subject to financing lease   $ 14,700     $ 14,700  
 Accumulated depreciation     (8,000 )     (6,500 )
 Net book value of office equipment subject to financing lease   $ 6,700     $ 8,200