REVENUE FROM CONTRACTS WITH CUSTOMERS

6 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

3. REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue Recognition

Sales of pharmaceuticals and medical devices are recognized generally at the point in time when delivery occurs and title transfers to the buyer. Sales of pharmaceuticals and medical devices are usually collected within 90 days of the date of sale.  

We have distributorship and sales representative agreements in place with third parties who do not take ownership of products. Any costs incurred related to these agreements are considered to be sales and marketing expenses.   

We also earn rental income which is recognized over time as the tenant occupies the space and pays the rental amount. Rentals are paid at the beginning of the month covered by the lease.  

Disaggregation of Revenue 

For the six and three month periods ended December 31, 2019 and 2018, a summary of our revenue on a disaggregated basis is as follows:

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2019		2018		2019		2018
Sales of pharmaceuticals	$	—	$	33,611	$	—	$	70,335
Sales of medical devices		1,904		482		42,712		676
Rental revenue from operating lease payments		16,853		14,759		26,603		24,509
	$	18,757	$	48,852	$	69,315	$	95,520

Transaction Prices 

In some cases, we may offer introductory discounts to customers. In such cases, we reduce the recorded revenue for such discounts. For the six month periods ended December 31, 2019 and 2018, our revenues were reduced by $42,649 and $0, respectively, for such discounts. For the three month periods ended December 31, 2019 and 2018, our revenues were reduced by $28,109 and $0, respectively, for such discounts.