11.   Fixed Assets

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

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Depreciation expense reported in continuing operations was approximately $164,000 and $120,000 for the three months ended March 31, 2024 and 2023. Depreciation expense reported in continuing operations was approximately $492,000 and $235,000 for the nine months ended March 31, 2024 and 2023.

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At March 31, 2024 and June 30, 2023 fixed assets held for sale in the amounts of $13,024,000 and $16,124,000, respectively, are included in assets held for sale.  Depreciation expense reported in discontinued operations was $0 for both the three months ended March 31, 2024 and 2023. The depreciation expense for the nine months ended March 31, 2024 and 2023 was $0 and $273,000, respectively, and is reported as part of loss from discontinued operations.

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The Company re-evaluated its business strategy and reviewed its product portfolio during Fiscal 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 2024. See Note 5 – Financial Instruments and Fair Value Measurement for more information.