XML 20 R11.htm IDEA: XBRL DOCUMENT

INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2023

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 5 — INTANGIBLE ASSETS

The following table summarizes the Company’s intangible assets as of September 30, 2023 (in thousands):


		Amortization		Gross Asset			Accumulated			Net Book
		Period		Cost			Amortization			Value
Customer relations		11 years		$	970		$	621		$	349
Patents		20 years			70			15			55
Trademark		20 years			78			16			62
				$	1,118		$	652		$	466

NOTE 5 — INTANGIBLE ASSETS (continued)

The following table summarizes the Company’s intangible assets as of June 30, 2023 (in thousands):


		Amortization		Gross Asset			Accumulated			Net Book
		Period		Cost			Amortization			Value
Customer relations		11 years		$	970		$	609		$	361
Patents		20 years			70			14			56
Trademark		20 years			78			15			63
				$	1,118		$	638		$	480

Amortization expense was $14,000 and $24,000 for the three months ended September 30, 2023 and 2022, respectively, and is included in general and administrative expense.

Estimated amortization expense related to intangible assets subject to amortization at September 30, 2023 in each of the five years subsequent to September 30, 2023, and thereafter is as follows (amounts in thousands):


2024		$	44
2025			59
2026			59
2027			59
Thereafter			245
Total		$	466