Balance Sheet Accounts
|9 Months Ended|
Dec. 31, 2020
|Balance Sheet Accounts|
|Balance Sheet Accounts||
3. Balance Sheet Accounts
Equipment consisted of the following at December 31, 2020 and March 31, 2020:
Depreciation expense for the three months ended December 31, 2020 and 2019 was $15,000 and $28,000, respectively. Depreciation expense for the nine months ended December 31, 2020 and 2019 was $49,000 and $79,000, respectively.
Accrued expenses consist of the following at December 31, 2020 and March 31, 2020:
The Company provides a one-year warranty as part of its normal sales offering. When products are sold, the Company provides warranty reserves, which, based on the historical experience of the Company are sufficient to cover warranty claims. Accrued warranty costs are included in accrued liabilities on the condensed consolidated interim balance sheets and amounted to $46,000 at December 31, 2020 and $162,000 at March 31, 2020. The significant decrease in the accrued warranty costs relates to a reduction in the number of units sold due to the COVID-19 pandemic.
The significant increase in accrued personnel costs relates to the deferral of certain salary and bonus payments that are owed to senior management. The significant increase in accrued director fees relates to the deferral of certain payments owed to the Company’s independent board of directors.