Quarterly report pursuant to Section 13 or 15(d)

Plant, Property and Equipment

v3.8.0.1
Plant, Property and Equipment
 3 Months Ended
Sep. 30, 2017
Property, Plant and Equipment [Abstract]  
Plant, Property and Equipment
PLANT, PROPERTY AND EQUIPMENT
Plant, property and equipment consists of the following at September 30, 2017 and June 30, 2017:
in thousands
 
 
 
 
 
 
 
September 30, 2017
 
June 30, 2017
 
Office furniture, and fixtures
 
$
1,984

 
$
1,638

 
Computer equipment
 
712

 
462

 
Computer software
 
3,521

 
2,386

 
Plant equipment
 
2,034

 
1,979

 
Building
 
315

 
315

 
Leasehold improvements
 
2,789

 
2,571

 
Total depreciable assets
 
11,355

 
9,351

 
Less: accumulated depreciation
 
(4,258
)
 
(3,885
)
 
Property and equipment not placed in service
 
1,187

 
1,105

 
Land
 
36

 
36

 
Plant, property and equipment, net
 
$
8,320

 
$
6,607

 

Depreciation expense for the three months ended September 30, 2017 and 2016 was $374,000 and $225,000, respectively.
Pursuant to the Company's acquisition of Goldline (see Note 1) the Company recorded approximately $1.8 million of additional property and equipment, which represents the approximate fair value of these assets.