v3.23.3

Fixed Assets

12 Months Ended

Jun. 30, 2023

Fixed Assets [Abstract]

Fixed Assets

11.    Fixed Assets

The following table summarizes by category the gross carrying value and accumulated depreciation of fixed assets (in thousands):

​

​	​	​	​	​	​	​
​		June 30,			June 30,
​	​	2023		​	2022
​	​	​	​	​	​	​
Building and improvements	​	$	695	​	$	—
Machinery and equipment	​		3,521	​		—
Office equipment and software	​	​	403	​	​	—
Construction in progress	​		—	​		1,373
​	​	​	4,619	​	​	1,373
Accumulated depreciation	​	​	(400)	​	​	—
Net fixed assets	​	$	4,219	​	$	1,373

​

Depreciation expense was approximately $400,000 and $0 for the years ended June 30, 2023 and 2022, respectively.

​

Fixed assets held for sale at June 30, 2023 and 2022 in the amount of $16,124,000 and $35,289,000, respectively, are included in assets held for sale.  The depreciation expense for the years ended June 30, 2023 and 2022 is classified as part of loss from discontinued operations.

During the Fiscal year ended June 30, 2023, the Company re-evaluated its business strategy and reviewed its product portfolio. After such review, the Company recorded an impairment charge of approximately $17.9 million.

See Note 5 - Financial Instruments and Fair Value Measurement for more information.

​

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

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