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4. Property and Equipment

6 Months Ended

Dec. 31, 2012

Property and Equipment consists of the following:

	December 31, 2012			June 30, 2012

Leasehold Improvements	$	2,024		$	1,839
Furniture and Fixtures		546			441
Computer Equipment		974			785
Software		103			95
Total		3,647			3,160
Accumulated Depreciation and Amortization		(595	)		(299	)
Property and Equipment, net	$	3,052		$	2,861

Depreciation and amortization charges to selling, general and administrative expenses for the six months ended December 31, 2012 and 2011 amounted to $296 and $59, respectively.

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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