| Selected Balance Sheet Elements |
| 5. |
Selected Balance Sheet Elements |
Inventories
Inventories consisted of the following as of March 31, 2024 and June
30, 2023:
| Schedule of inventories | |
| | |
| |
| | |
March 31, | | |
June 30, | |
| | |
2024 | | |
2023 | |
| Raw materials | |
$ | 955,568 | | |
$ | 658,175 | |
| Work-in-progress | |
| 1,218,522 | | |
| 708,007 | |
| Finished goods | |
| 579,118 | | |
| 712,510 | |
| Inventories | |
$ | 2,753,208 | | |
$ | 2,078,692 | |
Property and Equipment, Net
Property and equipment, net consisted of the following as of March
31, 2024 and June 30, 2023:
| Schedule of property and equipment, net | |
| | |
| |
| | |
March 31, | | |
June 30, | |
| | |
2024 | | |
2023 | |
| Machinery and equipment | |
$ | 1,603,545 | | |
$ | 1,448,556 | |
| Leasehold improvements | |
| 409,480 | | |
| 208,689 | |
| Computer and office equipment | |
| 470,003 | | |
| 426,162 | |
| Construction in progress | |
| – | | |
| 249,613 | |
| Property and equipment, gross | |
| 2,483,028 | | |
| 2,333,020 | |
| Less: Accumulated depreciation | |
| (1,057,200 | ) | |
| (856,938 | ) |
| Property and equipment, net | |
$ | 1,425,828 | | |
$ | 1,476,082 | |
Depreciation expense of $323,114 and $265,749
for the nine months ended, and $170,688 and $94,331 for the three months ended, March 31, 2024, and 2023, respectively, were included
in selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Loss.
Intangible Assets, Net
Intangible assets, net consisted of the following
as of March 31, 2024:
| Schedule of intangible assets, net | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
Developed | | |
| |
| | |
| | |
| | |
| | |
| | |
technology, | | |
| |
| | |
Curriculum | | |
| | |
Customer | | |
| | |
software, | | |
| |
| | |
development | | |
Licenses | | |
relationships | | |
Trademarks | | |
and other | | |
Totals | |
| Balance: June 30, 2023 | |
$ | 693,385 | | |
$ | 1,064,000 | | |
$ | 1,244,480 | | |
$ | 535,547 | | |
$ | 813,479 | | |
$ | 4,350,891 | |
| Additions | |
| – | | |
| – | | |
| – | | |
| – | | |
| – | | |
| – | |
| Balance: March 31, 2024 | |
| 693,385 | | |
| 1,064,000 | | |
| 1,244,480 | | |
| 535,547 | | |
| 813,479 | | |
| 4,350,891 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Less: Accumulated amortization | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance: June 30, 2023 | |
| (172,230 | ) | |
| (55,378 | ) | |
| (153,770 | ) | |
| (54,595 | ) | |
| (56,832 | ) | |
| (492,805 | ) |
| Additions | |
| (52,005 | ) | |
| (42,893 | ) | |
| (78,843 | ) | |
| (75,451 | ) | |
| (48,370 | ) | |
| (297,562 | ) |
| Balance: March 31, 2024 | |
| (224,235 | ) | |
| (98,271 | ) | |
| (232,613 | ) | |
| (130,046 | ) | |
| (105,202 | ) | |
| (790,367 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net book value: March 31, 2024 | |
$ | 469,150 | | |
$ | 965,729 | | |
$ | 1,011,867 | | |
$ | 405,501 | | |
$ | 708,277 | | |
$ | 3,560,524 | |
Amortization expense of $297,562 and $264,428
for the nine months ended, and $94,299 and $87,334 for the three months ended, March 31, 2024, and 2023, respectively, were included in
selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Loss. The Company’s
intangible assets are subject to amortization and are amortized over the straight-line methods over their estimated period of benefit.
|