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5. Property and Equipment

12 Months Ended

Jun. 30, 2012

Property and Equipment consists of the following:

	June 30, 2012			June 30, 2011

Leasehold Improvements	$	1,839		$	—
Furniture and Fixtures	441			9
Computer Equipment	785			60
Software	95			14
Total	3,160			83
Accumulated Depreciation and Amortization	(299		)	(4		)
Property and Equipment, net	$	2,861		$	79

Depreciation and amortization charges to selling, general and administrative expenses for the years ended June 30, 2012 and 2011 amounted to $616 and $4, respectively.

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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