v3.26.1
FIXED AND INTANGIBLE ASSETS, NET
 12 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
FIXED AND INTANGIBLE ASSETS, NET

NOTE 5 – FIXED AND INTANGIBLE ASSETS, NET

 

Fixed assets, net, consist of the following:

 

      
  June 30, 
  2026   2025 
Machinery and equipment  $1,611,000   $1,534,000 
Office equipment   457,000    447,000 
Furniture and equipment   274,000    274,000 
Leasehold improvements   168,000    149,000 
Construction in process   -    4,000 
Property, plant and equipment   2,510,000    2,408,000 
Less: accumulated depreciation   (2,034,000)   (1,700,000)
Total fixed assets, net  $476,000   $708,000 

 

Depreciation expense on property, plant and equipment was approximately $334,000 and $359,000 for the fiscal years ended June 30, 2026 and 2025, respectively, and is included in selling, general and administrative expenses in the accompanying consolidated statements of operations. Depreciation expense is computed on a straight-line basis with useful lives between three and five years. Leasehold improvements are amortized over the expected term of the lease.

 

 

Intangible Assets, net, consist of the following:

 

  2026   2025 
  June 30, 
  2026   2025 
Software  $3,222,000   $2,815,000 
Less: accumulated amortization   (2,459,000)   (1,969,000)
Total intangible assets, net  $763,000   $846,000 

 

Software consisting primarily of internally developed software for resale is amortized over three years. Software amortization expense is approximately $490,000 and $490,000 for the fiscal years ended June 30, 2026 and 2025, respectively.