Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.20.1
Property and Equipment, net
 9 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

Note 6. Property and Equipment, net


Property and equipment, net consisted of the following as of March 31, 2020 and June 30, 2019 (in thousands):


    Estimated Useful Life   March 31,
2020		     June 30,
2019		  
Land   n/a   $ 1,000     $ 1,000  
Building   11 years     3,000       3,000  
Equipment   2-10 years     20,381       13,611  
Leasehold Improvements   *     949       949  
Software   3 years     214       161  
Furniture & Fixtures   5 years     11       11  
Computer Equipment   3 years     260       203  
Total         25,815       18,935  
Less: Accumulated depreciation         (5,873 )     (3,757 )
Total       $ 19,942     $ 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 March 31, 2020 and 2019, respectively. The Company recorded depreciation expense of $2.2 million and $1.8 million for the nine months ended March 31, 2020 and 2019, respectively.