Annual report pursuant to Section 13 and 15(d)

8. Property and Equipment

v3.8.0.1
8. Property and Equipment
 12 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 8 – Property and Equipment

 

Property and equipment consists of the following:

 

    March 31,  
    2018     2017  
Manufacturing, lab, and other equipment   $ 3,653,000     $ 3,319,000  
Office equipment     361,000       324,000  
Furniture and fixtures     100,000       91,000  
Leasehold improvements     592,000       536,000  
      4,706,000       4,270,000  
Less: accumulated depreciation and amortization     (3,570,000 )     (3,031,000 )
    $ 1,136,000     $ 1,239,000  

 

Depreciation and amortization expense amounted to $490,000 and $248,000 for the years ended March 31, 2018 and 2017, respectively.

 

During the year ended March 31, 2018, the Company did not incur a loss or gain on the disposal of property and equipment. During the year ended March 31, 2017, the Company realized a loss of $10,000 on the disposal of property and equipment. This amount was recorded within operating expenses in the accompanying consolidated statements of comprehensive (loss) income.