401(k) Plan

9 Months Ended

Mar. 31, 2022

401(k) Plan

401(k) Plan

NOTE 12 - 401(k) Plan

The Company maintains a 401(k) plan (“the Plan”) that covers all U.S. non-union employees with one or more years of service and is qualified under Sections 401(a) and 401(k) of the Internal Revenue Code. Company contributions to this plan are discretionary and totaled $59,000 and $32,000 for the three months ended March 31, 2022 and 2021, respectively. Company contributions to this plan are discretionary and totaled $132,000 and $100,000 for the nine months ended March 31, 2022 and 2021, respectively.