Selected Balance Sheet Elements

3 Months Ended

Sep. 30, 2022

Selected Balance Sheet Elements

Selected Balance Sheet Elements

4. Selected Balance Sheet Elements

Inventories

Inventories consisted of the following As of September 30, 2022 and June 30, 2022:  

	September 30,		June 30,
	2022		2022
Raw materials	$	425,107	$	399,706
Finished goods		1,222,214		1,224,915
	$	1,647,321	$	1,624,621

Property and Equipment, Net

Property and equipment, net consisted of the following As of September 30, 2022 and June 30, 2022:  

	September 30,			June 30,
	2022			2022
Machinery and equipment	$	1,080,935		$	740,147
Leasehold improvements		440,160			314,642
Computer and office equipment		369,731			518,017
		1,890,826			1,572,806
Less: Accumulated depreciation		(516,535	)		(496,394	)
	$	1,374,291		$	1,076,412

Depreciation and amortization expense of $43,659 and $23,532 for the three months ended September 30, 2022 and 2021, respectively, were included in selling, general and administrative expenses in the statements of operations.

Intangible Assets, Net

Intangible assets, net consisted of the following As of September 30, 2022 and June 30, 2022:  

													Developed
													technology,
	Curriculum						Customer						software,
	development			Licenses			relationships			Trademarks			and other			Totals
Balance: June 30, 2022	$	693,385		$	1,064,000		$	1,230,159		$	348,100		$	335,021		$	3,670,665
Additions		–			–			–			–			87,999			87,999
Balance: September 30, 2022		693,385			1,064,000			1,230,159			348,100			423,020			3,758,664
Less: Accumulated amortization
Balance: June 30, 2022		(102,891	)		(4,260	)		(30,754	)		(380	)		(7,492	)		(145,777	)
Additions		(17,334	)		(12,780	)		(30,754	)		(15,125	)		(7,100	)		(83,093	)
Balance: September 30, 2022		(120,225	)		(17,040	)		(61,508	)		(15,505	)		(14,592	)		(228,870	)
Net book value: September 30, 2022	$	573,160		$	1,046,960		$	1,168,651		$	332,595		$	408,428		$	3,529,794

													Developed
													technology,
	Curriculum						Customer						software,
	development			Licenses			relationships			Trademarks			and other			Totals
Balance: June 30, 2021	$	693,385		$	–		$	–		$	–		$	–		$	693,385
Additions		–			1,064,000			1,230,159			348,100			335,021			2,977,280
Balance: June 30, 2022		693,385			1,064,000			1,230,159			348,100			335,021			3,670,665
Less: Accumulated amortization
Balance: June 30, 2021		(28,891	)		–			–			–			–			(28,891	)
Additions		(74,000	)		(4,260	)		(30,754	)		(380	)		(7,492	)		(116,886	)
Balance: June 30, 2022		(102,891	)		(4,260	)		(30,754	)		(380	)		(7,492	)		(145,777	)
Net book value: June 30, 2022	$	590,494		$	1,059,740		$	1,199,405		$	347,720		$	327,529		$	3,524,888

Amortization expense of $83,093 and $18,105 for the three months ended September 30, 2022, and 2021, respectively, were included in selling, general and administrative expenses in the statements of operations. The Company’s intangible assets are subject to amortization and are amortized over the straight-line methods over their estimated period of benefit.