Annual report pursuant to Section 13 and 15(d)

Property and equipment

v3.20.2
Property and equipment
 12 Months Ended
Jun. 30, 2020
Property, Plant and Equipment [Abstract]  
Property and equipment

Note 5. Property and equipment


Property and equipment consisted of the following as of June 30, 2020 and 2019 (in thousands):


    June 30,
2020		     June 30,
2019		     Estimated
Useful Life
Land   $ 1,000     $ 1,000     n/a
Building     3,000       3,000     11 years
Equipment     24,746       13,611     2-10 years
Leasehold Improvements     964       949     *
Software     294       161     3 years
Furniture & Fixtures     11       11     5 years
Computer Equipment     267       203     3 years
Total     30,282       18,935      
Less: Accumulated depreciation     (6,677 )     (3,757 )    
Total   $ 23,605     $ 15,178      

(*) Leasehold improvements which 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 $2.9 million and $2.4 million for the years ended June 30, 2020 and 2019, respectively.


As of June 30, 2020, equipment with a net book value totaling $5.6 million had not been placed in service and therefore was not depreciated during the period. As of June 30, 2019, fixed assets with a net book value totaling $2.6 million had not been placed in service and therefore was not depreciated during the period.