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ACQUISITIONS (Tables) | 12 Months Ended
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Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisition | The estimated fair value of the purchase price consideration consisted of the following:
($ in thousands) |
Closing cash consideration | $ | 36,605 |
Stock Consideration | 4,506 |
Fair value of total consideration transferred | $ | 41,111 |
The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of June 30, 2023.
($ in thousands) | Amount
Cash and cash equivalents | $ | 891 |
Accounts receivable | 1,780 |
Inventories | 2,011 |
Intangible assets | 14,904 |
Other assets | 670 |
Total identifiable assets acquired | 20,256 |
Accounts payable | (2,358) |
Tax liabilities | (2,095) |
Total liabilities assumed | (4,453) |
Total identifiable net assets | 15,803 |
Goodwill | 25,308 |
Fair value of total consideration transferred | $ | 41,111 |
The following table summarizes the total consideration paid for Yoke, total net assets acquired, identifiable assets and goodwill recognized at the acquisition date:
($ in thousands) | Amount
Consideration |
Cash | $ | 2,966 |
Contingent consideration arrangement | 1,000 |
Fair value of total consideration transferred | 3,966 |
Recognized amounts of identifiable assets |
Total net assets acquired | 21 |
Identifiable intangible assets | 1,235 |
Total identifiable net assets | 1,256 |
Goodwill | $ | 2,710 |
Schedule of Pro Forma Operations Results |
|  | Year ended June 30,
(In thousands) |  | 2023 |  | 2022
Revenues |  | $ | 251,979 |  |  | $ | 222,185 |
Net loss |  | (75) |  |  | (7,117) |
The unaudited supplemental pro forma financial information for the year ended June 30, 2023 was adjusted to exclude $3.1 million of acquisition related costs, the components of which were previously described. The unaudited supplemental pro forma financial information for the year ended June 30, 2022 was adjusted to include the $3.1 million of acquisition related costs.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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