Property and Equipment

12 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following:

	March 31,
	2019			2018
Laboratory equipment	$	892,500		$	888,300
Tenant improvements		214,400			26,900
Computers and network equipment		54,600			54,600
Office furniture and equipment		84,600			79,700
		1,246,100			1,049,500
Accumulated depreciation and amortization		(933,400	)		(842,100	)
Property and equipment, net	$	312,700		$	207,400

The increase in tenant improvements reflects recently completed construction at our South San Francisco, California offices. Under the terms of our November 2016 lease extension agreement, our landlord has provided a cash reimbursement of $158,600 of such tenant improvement costs. Such reimbursement is a component of the deferred rent liability shown on our Consolidated Balance Sheet at March 31, 2019.

The following table summarizes depreciation and amortization expense attributable to owned and leased property and equipment for the fiscal years ended March 31, 2019 and 2018:

	Fiscal Years Ended March 31,
	2019		2018
Owned assets	$	88,300	$	77,800
Leased assets		2,900		2,900
Total depreciation and amortization	$	91,200	$	80,700

Other than certain leased office equipment, none of our assets were subject to third party security interests at March 31, 2019 or 2018.