Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

v3.19.3
Fixed Assets
 3 Months Ended
Sep. 30, 2019
Fixed Assets  
Fixed Assets

6.   Fixed Assets

As discussed above, the Company adopted ASC 842. As such, assets formerly classified as "under capital lease" are now classified as finance lease ROU assets.  See Note 5 above.

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

 

 

 

 

 

 

 

 

 

    

September 30, 

    

June 30,

 

 

2019

 

2019

Facility improvements

 

$

1,449

 

$

1,449

Medical equipment

 

 

1,297

 

 

1,260

Office equipment and software

 

 

297

 

 

231

Construction in progress

 

 

102

 

 

138

Facility under capital lease

 

 

 —

 

 

20,000

Equipment under capital lease

 

 

 —

 

 

6,000

 

 

 

3,145

 

 

29,078

Accumulated depreciation – assets under capital lease

 

 

 —

 

 

(4,212)

Accumulated depreciation 

 

 

(551)

 

 

(486)

Net fixed assets

 

$

2,594

 

$

24,380

 

Depreciation expense was approximately $66,000 and $360,000 for the three months ended September 30, 2019 and 2018, respectively.