Property and Equipment - net

12 Months Ended

Jun. 30, 2013

4. Property and Equipment – net

Property and equipment consist of the following:

	Estimated		June 30,		June 30,
	Life (Years)		2013		2012

Manufacturing equipment		5 - 10	$	3,859,620	$	3,400,004
Computer equipment and software		3 - 5		255,100		249,478
Furniture and fixtures		5		75,762		86,358
Leasehold improvements		5 - 7		826,307		797,219
Construction in progress				279,869		237,800
Tooling		1 - 5		852,143		880,261
Total property and equipment				6,148,801		5,651,120

Less accumulated depreciation and amortization				3,913,020		3,730,170
Total property and equipment, net			$	2,235,781	$	1,920,950

During fiscal years 2013 and 2012, fully depreciated manufacturing equipment and computer equipment in the amount of $4,800 and $123,700, respectivley, was written off as abandoned assets. Tooling once fully amortized is disposed. Disposals for tooling were $553,300 and $579,700 for fiscal 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details