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COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS | 9 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS | NOTE 5. COMPOSITION OF CERTAIN FINANCIAL STATEMENT ITEMS Inventory Inventory is stated at the lower of cost (first-in, first-out) or net realizable value and consists of the following (in thousands):
Schedule of investments |  |  |  |  |  |
|  | March 31, 2025 |  |  | June 30, 2024 |
Raw materials /purchased components |  | $ | 10,065 |  |  | $ | 6,703 |
Work in process |  |  | 9,332 |  |  |  | 5,103 |
Sub-assemblies/finished components |  |  | 2,856 |  |  |  | 2,342 |
Finished goods |  |  | 1,179 |  |  |  | 1,121 |
Total inventory |  | $ | 23,432 |  |  | $ | 15,269 |
Land and building Land and building consist of the following (in thousands):
Schedule of land and building |  |  |  |  |  |
|  | March 31, 2025 |  |  | June 30, 2024 |
Land |  | $ | 3,684 |  |  | $ | 3,684 |
Building |  |  | 2,815 |  |  |  | 2,815 |
Total |  |  | 6,499 |  |  |  | 6,499 |
Less: accumulated depreciation |  |  | (414 | ) |  |  | (344 | )
|  | $ | 6,085 |  |  | $ | 6,155 |
On November 6, 2020, we acquired the Franklin Property for a total purchase price of $6.5 million, of which we paid $1.3 million in cash and the balance of $5.2 million we financed (the “Property Loan”) through Minnesota Bank & Trust (“MBT”) (See Note 11). We substantially completed the build-out of the property in the first quarter of fiscal 2022. We began operations in the new facility during the fourth quarter of fiscal 2023. For each of the three months ended March 31, 2025, and 2024 we recorded $23,000 of depreciation expense and for each of the nine months ended March 31, 2025 and 2024 we recorded $70,000 of depreciation expense. The building is being amortized on a straight-line basis over a period of 30 years Intangibles Intangibles consist of the following (in thousands):
Schedule of intangibles |  |  |  |  |  |
|  | March 31, 2025 |  |  | June 30, 2024 |
Patent-related costs |  | $ | 208 |  |  | $ | 208 |
Less: accumulated amortization |  |  | (175 | ) |  |  | (154 | )
|  | $ | 33 |  |  | $ | 54 |
Patent-related costs consist of legal fees incurred in connection with both patent applications and a patent issuance and will be amortized over the estimated life of the product(s) that is or will be utilizing the technology or expensed immediately in the event the patent office denies the issuance of the patent. For each of the three months ended March 31, 2025 and 2024, we recorded $7,000 of amortization expense and for each of the nine months ended March 31, 2025 and 2024, we recorded $21,000 of amortization expense. Future amortization expense is expected to be $7,000 for the remainder of fiscal 2025 and $26,000 during fiscal 2026, at which time we expect these costs to be fully amortized.

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