4. Property and Equipment

6 Months Ended

Sep. 30, 2013

Property, Plant and Equipment [Abstract]

Property and equipment as of September 30, 2013 and March 31, 2013 consisted of the following:

	September 30, 2013			March 31, 2013
Injection well	$	3,983,538		$	3,902,774
Machinery and equipment		4,026,143			3,983,618
Construction in progress		2,316,218			2,479,907
Buildings		87,500			87,500
Land		51,000			51,000
Office equipment, furniture and fixtures		10,692			4,188
Vehicles		27,474			–
Accumulated depreciation		(880,027	)		(571,371	)
Total	$	9,622,538		$	9,937,616

As of September 30, 2013, construction in progress is idle and requires additional capital, which will most likely be a result of the Merger. During the six months ended September 30, 2013 and 2012, the Company recorded depreciation expense of $308,123 and $91,512, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Sustainable Environmental Technologies Corp 10-Q