SUPPLEMENTAL FINANCIAL INFORMATION

12 Months Ended

Jun. 30, 2024

SUPPLEMENTAL FINANCIAL INFORMATION

SUPPLEMENTAL FINANCIAL INFORMATION

NOTE 12 - SUPPLEMENTAL FINANCIAL INFORMATION

Cash and cash equivalents

Cash and cash equivalents consisted of the following as of June 30, 2024 and 2023 (in thousands):

	2024		2023
Money market funds	$	61,249	$	5,464
Demand deposits at a single financial institution		9,147		6,091
Commercial paper		—		4,481
Total	$	70,396	$	16,036

The money market funds and commercial paper included in the table above were purchased with an original maturity of three months or less. These investments and the demand deposits are freely available for the Company’s immediate and general business use.

Property and Equipment

Property and equipment consisted of the following as of June 30, 2024 and 2023 (in thousands):

	2024		2023
Office furniture and equipment	$	210	$	210
Less accumulated depreciation		(107)		(71)
Total	$	103	$	139

Depreciation expense related to property and equipment amounted to approximately $36,000 and $30,000 for the fiscal years ended June 30, 2024 and 2023, respectively.