INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2025

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 3— INTANGIBLE ASSETS

The following table summarizes the Company’s intangible assets as of March 31, 2025 (in thousands):

	Amortization	Gross Asset		Accumulated		Net Book
	Period	Cost		Amortization		Value
Customer relations	11 years	$	970	$	698	$	272
Patents	20 years		70		20		50
Trademark	20 years		78		22		56
		$	1,118	$	740	$	378

The following table summarizes the Company’s intangible assets as of June 30, 2024 (in thousands):

	Amortization	Gross Asset		Accumulated		Net Book
	Period	Cost		Amortization		Value
Customer relations	11 years	$	970	$	660	$	310
Patents	20 years		70		17		53
Trademark	20 years		78		19		59
		$	1,118	$	696	$	422

Amortization expense was $15,000 and $15,000 for the three months ended March 31, 2025 and 2024, respectively, and $44,000 and $43,000 for the nine months ended March 31, 2025 and 2024, respectively, and is included in general and administrative expense.

Estimated amortization expense related to intangible assets subject to amortization at March 31, 2025 in each of the years subsequent to March 31, 2025, and thereafter is as follows (amounts in thousands);

2025	$	15
2026		60
2027		60
2028		60
2029		60
Thereafter		123
Total	$	378