PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2013

PROPERTY AND EQUIPMENT, NET [Abstract]

NOTE 5 – PROPERTY AND EQUIPMENT, NET

Property and equipment at December 31, 2013 and June 30, 2013 consists of the following (in thousands):

	December 31, 2013			June 30, 2013
Machinery and equipment	$	2,094		$	2,008
Furniture and fixtures		625			613
Computer software		139			107
		2,858			2,728
Less accumulated depreciation and amortization		(1,128	)		(933	)
	$	1,730		$	1,795

Depreciation expense for the six months ended December 31, 2013 and 2012 was $195,000 and $161,000, respectively. Depreciation expense for the years ended June 30, 2013 and 2012 was $338,000 and $285,000, respectively.

- Definition

The entire disclosure for 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. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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