(4) Inventory

As the Company focuses on development of the TRACER 1000, inventory associated with prior iterations of our technology was written-off during the second quarter of fiscal 2018. In addition, materials purchases are currently being expensed until inventory accounting is warranted by future product sales.

The following table summarizes the components of our inventory balances, net of allowance of $393 thousand and $560 thousand at September 30, 2018, and June 30, 2018, respectively:

(In thousands)	September 30, 2018		June 30, 2018
Raw materials	$	—	$	7
Work in process		—		—
Total inventory	$	—	$	7