PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

Sep. 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:

	September 30, 2017		March 31, 2017
Land	$	110,113	$	110,113
Building and improvements		3,252,908		3,252,908
Machinery equipment, furniture and fixtures		9,896,917		8,601,199
Construction in progress		--		487,331
Equipment under capital leases		54,376		54,376
Total property, plant and equipment		13,314,314		12,505,927
Less: accumulated depreciation		(7,945,147)		(7,593,725)
Total property, plant and equipment, net	$	5,369,167	$	4,912,202

Depreciation expense, which includes amortization of equipment under capital leases, for the three and six months ended September 30, 2017 and 2016 was $179,808 and $351,422, and $177,438 and $353,488, respectively.

Capitalized leases were $54,376 at the end of September 30, 2017 and March 31, 2017. Accumulated depreciation on all property, plant and equipment accounted for as capitalized leases at September 30, 2017 and March 31, 2017, was $8,156 and $2,719, respectively.

We capitalize interest 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 and six months ended September 30, 2017 was $8,590 and $13,257, respectively.