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Property and Equipment

9 Months Ended

Mar. 31, 2014

4. Property and Equipment

Property and equipment are summarized as follows:

	Estimated	(Unaudited)
	Life	March 31,		June 30,
	(Years)	2014		2013

Manufacturing equipment	5 - 10	$	4,427,046	$	3,859,620
Computer equipment and software	3 - 5		281,330		255,100
Furniture and fixtures	5		87,102		75,762
Leasehold improvements	5 - 7		864,380		826,307
Construction in progress			908,034		279,869
Tooling	1 - 5		—		852,143
Total property and equipment			6,567,892		6,148,801

Less accumulated depreciation and amortization			3,905,077		3,913,020
Total property and equipment, net		$	2,662,815	$	2,235,781

Tooling was reclassified to inventory in the second quarter of fiscal 2014.

- 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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