PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following as of:

	June 30, 2017		March 31, 2017
Land	$	110,113	$	110,113
Building and improvements		3,252,908		3,252,908
Machinery equipment, furniture and fixtures		9,092,920		8,601,199
Construction in progress		208,556		487,331
Equipment under capital leases		54,376		54,376
Total property, plant and equipment		12,718,873		12,505,927
Less: accumulated depreciation		(7,765,338)		(7,593,725)
Total property, plant and equipment, net	$	4,953,535	$	4,912,202

Depreciation expense, which includes amortization of equipment under capital leases, for the three months ended June 30, 2017 and 2016 was $171,613 and $176,050, respectively. On March 31, 2017 we classified certain machinery and equipment as assets held for sale. See Note 7 - Other Noncurrent Assets.

Capitalized leases were $54,376 at the end of June 30, 2016 and March 31, 2017. Accumulated depreciation on all property, plant and equipment accounted for as capitalized leases was $5,438 and $2,719 at June 30, 2017 and March 31, 2017, respectively.

We capitalize interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Capitalized interest for the three months ended June 30, 2017 was $4,667.