Property and Equipment

12 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

6.  Property and Equipment 

Property and equipment consists of the following: 

	March 31,
	2016			2015
Laboratory equipment	$	659,000		$	653,600
Tenant improvements		26,900			26,900
Computers and network equipment		43,200			32,200
Office furniture and equipment		69,500			69,500
		798,600			782,200
Accumulated depreciation and amortization		(711,000	)		(665,100	)
Property and equipment, net	$	87,600		$	117,100

In connection with the issuance of Senior Secured Convertible Promissory Notes to PLTG beginning in October 2012, we entered into a Security Agreement with PLTG under which the repayment of all amounts due under the terms of the various Senior Secured Convertible Promissory Notes was secured by all of our assets, including our tangible and intangible personal property, licenses, patent licenses, trademarks and trademark licenses. As described more completely in Note 8, Convertible Promissory Notes and Other Notes Payable, and Note 9, Capital Stock, in May 2015, we entered into an agreement with PLTG pursuant to which PLTG 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.