PROPERTY, PLANT & EQUIPMENT

9 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT & EQUIPMENT

NOTE 7 - PROPERTY, PLANT & EQUIPMENT

Property, plant and equipment are comprised of the following:

	March 31, 2018		June 30, 2017
Land	$	-	$	217,000
Building and improvements		18,209		3,532,375
Manufacturing equipment		3,153,426		4,255,385
Office equipment		470,731		454,562
Total, at cost		3,642,366		8,459,322
Less: accumulated depreciation		(2,977,851)		(5,013,069)
Property, plant and equipment, net	$	664,515	$	3,446,253

The Company recorded depreciation expense of $58,597 and $238,677 for the three and nine months ended March 31, 2018, respectively. The Company recorded depreciation expense of $98,318 and $379,450 for the three and nine months ended March 31, 2017, respectively.

 

See Impairment of Long-Lived Assets under Note 1 of the Notes to Condensed Consolidated Financial Statements for a discussion of the impairment charge related to the sale of the Company’s corporate headquarters.