Note C - Property and Equipment

3 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

C. Property and Equipment

Property and equipment consisted of the following (in thousands):

	Depreciable Life In Years				September 30, 2021			June 30, 2021
Land			NA		$	7,645		$	1,200
Building and building improvements		7	–	39		14,753			3,757
Machinery and equipment		3	–	12		36,107			35,458
Office equipment and furniture		3	–	5		5,763			5,712
Vehicles			3			211			255
Leasehold improvements		1	–	15		20,438			20,236
Total property and equipment						84,917			66,618
Less: accumulated depreciation and amortization						(45,413	)		(44,347	)
Property and equipment, net					$	39,504		$	22,271

On August 20, 2021, we acquired a manufacturing and warehouse property in Carlsbad California from an unrelated party for $17.5 million. The approximately 54,154 square foot building includes environmentally controlled warehouse space, office space and additional non-environmentally controlled warehouse space. We intend to retrofit a significant portion of the building into a dedicated high-volume powder blending and packaging facility. This new facility will also provide us with additional raw material storage capacity, and additional office space.