Property and Equipment

12 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

6.  Property and Equipment

Property and equipment consists of the following:

	March 31,
	2015			2014
Laboratory equipment	$	653,600		$	653,600
Tenant improvements		26,900			26,900
Computers and network equipment		32,200			32,200
Office furniture and equipment		69,500			69,500
		782,200			782,200
Accumulated depreciation and amortization		(665,100	)		(605,900	)
Property and equipment, net	$	117,100		$	176,300

In connection with the issuance of Senior Secured Convertible Promissory Notes to Platinum beginning in October 2012, we entered into a Security Agreement with Platinum under which the repayment of all amounts due under the terms of the various Senior Secured Convertible Promissory Notes is secured by all of our assets, including our tangible and intangible personal property, licenses, patent licenses, trademarks and trademark licenses (see Note 8, Convertible Promissory Notes and Other Notes Payable).  As described in Note 16, Subsequent Events, during May 2015, we entered into an agreement with Platinum pursuant to which Platinum converted all of the Senior Secured Convertible Promissory Notes it held into shares of our newly created Series B Preferred stock and terminated its security interests in our assets.