Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.19.3
Property and Equipment, net
 3 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 6. Property and Equipment, net

 

Property and equipment, net consisted of the following as of September 30, 2019 and June 30, 2019 (in thousands):

  

   

Estimated 

Useful Life 

  

September 30, 

2019 

    

June 30, 

2019

  
Land   n/a   $ 1,000     $ 1,000  
Building   11 years     3,000       3,000  
Equipment   2-10 years     15,102       13,611  
Leasehold Improvements   *     949       949  
Software   3 years     161       161  
Furniture & Fixtures   5 years     11       11  
Computer Equipment   3 years     203       203  
Total         20,426       18,935  
Less: Accumulated depreciation         (4,381 )     (3,757 )
Total       $ 16,045     $ 15,178  

 

(*) Leasehold improvements are amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter.

  

The Company recorded depreciation expense of $0.7 million and $0.6 million for the three months ended September 30, 2019 and 2018, respectively.