Annual report pursuant to Section 13 and 15(d)

7. Property and Equipment

v3.19.2
7. Property and Equipment
 12 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 7 – Property and Equipment

 

Property and equipment consists of the following:

 

    March 31,  
    2019     2018  
Manufacturing, lab, and other equipment   $ 3,575,000     $ 3,653,000  
Office equipment     380,000       361,000  
Furniture and fixtures     110,000       100,000  
Leasehold improvements     576,000       592,000  
      4,641,000       4,706,000  
Less: accumulated depreciation and amortization     (3,914,000 )     (3,570,000 )
    $ 727,000     $ 1,136,000  

 

Depreciation and amortization expense amounted to $453,000 and $490,000 for the years ended March 31, 2019 and 2018, respectively.

 

During the year ended March 31, 2019, the Company did not incur a loss or gain on the disposal of property and equipment. During the year ended March 31, 2018, 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.