Property, plant and equipment

9 Months Ended

Mar. 31, 2016

Property, plant and equipment [Text Block]

Note 6 – Property, plant and equipment

Property, plant and equipment consist of the following:

		March 31,			June 30,
		2016			2015
Machinery and equipment	$	2,205,667		$	2,363,324
Transportation equipment		745,867			1,030,710
Leased equipment		10,691,352			11,287,442
Office equipment		1,205,561			1,305,992
Buildings and improvements		324,431			393,205
Total		15,172,878			16,380,673
Less: Accumulated depreciation		(7,256,781	)		(6,224,825	)
Plant and equipment, net	$	7,916,097		$	10,155,848

Depreciation expense for each of the three months ended March 31, 2016 and 2015 amounted to approximately $0.5 million. Depreciation expense for the nine months ended March 31, 2016 and 2015 amounted to approximately $1.5 million and $1.6 million, respectively. Depreciation expense for the leased equipment for each of the three months ended March 31, 2016 and 2015 was $0.4 million. Depreciation expense for the leased equipment for each of the nine months ended March 31, 2016 and 2015 amounted to approximately $1.1 million. Accumulated depreciation for the leased equipment as of March 31, 2016 and June 30, 2015 was $4.3 million and $3.3 million, respectively. There was no impairment charge for each of the three and nine months ended March 31, 2016 and 2015.