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Properties, Plant and Equipment, Net
 3 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Properties, Plant and Equipment, Net

4. Properties, Plant and Equipment, Net

Properties, plant and equipment, net consisted of the following.

 

 

Depreciation

 

Estimated useful

 

September 30,

 

 

June 30,

 

Asset category

 

method

 

life (in years)

 

2023

 

 

2023

 

 

 

 

 

 

 

(in thousands)

 

Land

 

N/A

 

—

 

$

1,533

 

 

$

1,533

 

Buildings

 

Straight-line

 

7-15

 

 

873

 

 

 

873

 

Vehicles

 

Straight-line

 

3-5

 

 

345

 

 

 

345

 

Plant and equipment

 

Straight-line

 

5-10

 

 

676

 

 

 

623

 

 

 

 

 

 

 

3,427

 

 

 

3,374

 

Less accumulated depreciation

 

 

 

 

 

 

(366

)

 

 

(318

)

Properties, plant and equipment, net

 

 

 

 

 

$

3,061

 

 

$

3,056

 

For the three months ended September 30, 2023 and 2022, we recognized depreciation expense of approximately $47 thousand and $35 thousand, respectively.