Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v3.21.2
Fixed Assets
 12 Months Ended
Jun. 30, 2021
Fixed Assets [Abstract]  
Fixed Assets

9.    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 8 – Finance Lease ROU’s above.

 

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

 

 

 

 

 

 

 

 

 

    

June 30, 

    

June 30, 

 

 

2021

 

2020

Facility improvements

 

$

1,517

 

$

1,465

Machinery and equipment

 

 

4,255

 

 

1,760

Office equipment and software

 

 

714

 

 

398

Construction in progress

 

 

3,367

 

 

787

 

 

 

9,853

 

 

4,410

Accumulated depreciation

 

 

(1,225)

 

 

(753)

Net fixed assets

 

$

8,628

 

$

3,657

 

Depreciation expense was approximately $472,000 and $282,000 in 2021 and 2020, respectively.