v3.26.1
Property and Equipment
 9 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment

6. Property and Equipment

 

The table below presents the property and equipment as of March 31, 2026 and June 30, 2025:

 

   March 31, 2026   June 30, 2025 
Land  $13,234,144   $11,225,956 
Building   16,790,592    16,653,019 
Construction in progress   9,513,380    - 
Equipment and vehicles   26,773,219    24,363,000 
Property and equipment, gross   66,311,335    52,241,975 
Less: accumulated depreciation   (11,080,175)   (6,772,122)
Property and equipment, net  $55,231,160   $45,469,853 

 

Property and equipment that are purchased or constructed which require a period of time before the assets are ready for their intended use are accounted for as construction-in-progress. Construction-in-progress is recorded at acquisition cost, including installation costs. Construction-in-progress is transferred to specific property and equipment accounts and commences depreciation when these assets are put in use. As of March 31, 2026, Construction in progress is comprised of improvements to the Company’s recycling facility not yet put in use of $3.6 million and the Company’s land and building in Fernley, Nevada valued at $6.0 million (see Note 7).

 

The Company recognized depreciation expense of $4.3 million and $3.8 million for the nine months ended March 31, 2026 and 2025, respectively.