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Property and Equipment - net

12 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

4. Property and Equipment – net

Property and equipment consist of the following:

	Estimated Life (Years)		June 30, 2014		June 30, 2013
Manufacturing equipment		5 - 10	$	5,255,571	$	3,859,620
Computer equipment and software		3 - 5		299,314		255,100
Furniture and fixtures		5		101,953		75,762
Leasehold improvements		5 - 7		864,378		826,307
Construction in progress				665,977		279,869
Tooling		1 - 5		—		852,143
Total property and equipment				7,187,193		6,148,801

Less accumulated depreciation and amortization			4,013,288				3,913,020
Total property and equipment, net		$	3,173,905			$	2,235,781

During fiscal years 2014 and 2013, fully depreciated manufacturing equipment and computer equipment in the amount of $0 and $4,800, respectively, was written off as abandoned assets. In fiscal 2013, tooling once fully amortized was disposed. Disposals for tooling were $553,300 for fiscal 2013.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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