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6. PROPERTY, PLANT & EQUIPMENT

12 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT & EQUIPMENT

NOTE 6– PROPERTY, PLANT & EQUIPMENT

Property, plant, and equipment are comprised of the following as of June 30, 2012 and June 30, 2011:

		2012				2011
Land		$	217,000			$	217,000
Building and improvements			3,520,872				2,559,266
Manufacturing equipment			4,597,020				2,901,912
Office equipment			313,928				217,074
Construction in process			31,050				1,215,400
Total, at cost			8,679,870				7,110,652
Less, accumulated depreciation			(3,195,325	)			(2,343,781	)
Property, Plant & Equipment, Net		$	5,484,545			$	4,766,871

During the year ended June 30, 2011, manufacturing equipment previously used in production and development activities were identified as impaired or had reached the end of their respective useful lives due to changing product and manufacturing technologies. Upon write-down, the manufacturing equipment and accumulated depreciation accounts were adjusted accordingly and $219,213 was charged to operations during the year ended June 30, 2011. The adjustments were reported as impairment and other equipment charges.

The entire disclosure for 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. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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