Property and Equipment

9 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

NOTE 4 – PROPERTY AND EQUIPMENT

We state property and equipment at historical cost less accumulated depreciation. We compute depreciation using the straight-line method at rates intended to depreciate the cost of assets over their estimated useful lives, which are generally five to seven years. Upon retirement or sale of property and equipment, we remove the cost of the disposed assets and related accumulated depreciation from the accounts and any resulting gain or loss is credited or charged to selling, general, and administrative expenses. We charge expenditures for normal repairs and maintenance to expense as incurred.

We capitalize additions and expenditures for improving or rebuilding existing assets that extend the useful life. Leasehold improvements made either at the inception of the lease or during the lease term are amortized over the shorter of their economic lives or the lease term including any renewals that are reasonably assured.

Property and equipment consisted of the following at December 31, 2018 and March 31, 2018:

	December 31, 2018			March 31, 2018
Leasehold Improvements	$	81,744		$	17,772
Furniture and Fixtures		46,274			8,102
Vehicles		103,511			89,388
Equipment		2,642,997			879,871
Tooling		109,791			359,351
Total property and equipment	$	2,984,317		$	1,354,484
Less accumulated depreciation		(341,330	)		(113,158	)
Net property and equipment		2,642,987			1,241,326

Depreciation Expense for the nine months and three months ended December 31, 2018 and 2017 totaled $228,172, $91,837, $64,361, and $22,880, respectively. Depreciation for the three months ended March 31, 2018 was $35,297.