v3.24.3

Fixed Assets | 12 Months Ended
--- | ---
Jun. 30, 2024
Fixed Assets |
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,
​ | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​
Building and improvements | ​ | $ | 695 | ​ | $ | 695
Machinery and equipment | ​ |  | 3,545 | ​ |  | 3,521
Office equipment and software | ​ | ​ | 403 | ​ | ​ | 403
​ | ​ | ​ | 4,643 | ​ | ​ | 4,619
Accumulated depreciation | ​ | ​ | (1,011) | ​ | ​ | (400)
Net fixed assets | ​ | $ | 3,632 | ​ | $ | 4,219
​ Depreciation expense was approximately $638,000 and $400,000 for the years ended June 30, 2024 and 2023, respectively. ​ Fixed assets held for sale at June 30, 2024 and 2023 in the amount of $0 and $16,124,000, respectively, are included in assets held for sale. No depreciation expense related to held-for-sale assets was recorded for the year ended June 30, 2024. The depreciation expense related to held-for-sale assets for the year ended June 30, 2023 is classified as part of loss from discontinued operations. The Company re-evaluated its business strategy and reviewed its product portfolio during fiscal year 2023 which resulted in an impairment charge of approximately $17.9 million to the assets held for sale. An additional $3.1 million fixed asset impairment charge related to the assets held for sale was recorded in the second quarter of fiscal year 2024. See Note 5 – Financial Instruments and Fair Value Measurement for more information.

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