Note 5 - Fixed Assets

6 Months Ended

Dec. 31, 2020

Property, Plant and Equipment Disclosure [Text Block]

Fixed Assets

Fixed assets are recorded at cost and once placed in service, are depreciated on a straight-line basis over the estimated useful lives. Leasehold improvements are amortized over the shorter of the estimated economic life or related lease term. Fixed assets consist of the following:

		As of			As of
	Estimated	December 31,			June 30,
	Useful Lives in years	2020			2020
Manufacturing equipment	2 - 5	$	112,000		$	112,000
Leasehold improvements	3		111,000			229,000
Office equipment, furniture and other	2 - 5		281,000			312,000
Lab equipment	3 - 5		90,000			90,000
Less accumulated depreciation and amortization			(504,000	)		(484,000	)
Fixed assets, net		$	90,000		$	259,000

During the

six

months ended

December 31, 2020

, the Company recognized a loss of

$0.1

million on sale of equipment due to termination of leases.

Depreciation and amortization expense totaled

$18,000

and

$16,000

for the

three

-months ended

December 31, 2020

and

2019,

respectively, and

$51,000

and

$32,000

for the

six

-months ended

December 31, 2020

and

2019

, respectively.