ACQUISITION (Tables)

9 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisition

The estimated fair value of the purchase price consideration consisted of the following:

($ in thousands)
Closing cash consideration	$	36,796
Stock Consideration	3,942
Fair value of total consideration transferred	$	40,738

The following table summarizes the adjusted fair value assigned to the assets acquired and liabilities assumed as of March 31, 2023.

($ in thousands)	Amount
Cash and cash equivalents	$	941
Accounts receivable	2,502
Inventories	1,862
Intangible assets	13,222
Other assets	535
Total identifiable assets acquired	19,062
Accounts payable	(2,457)
Tax liabilities	(1,983)
Total liabilities assumed	(4,440)
Total identifiable net assets	14,622
Goodwill	26,116
Fair value of total consideration transferred	$	40,738

The following table summarizes the total consideration paid for Yoke, total net assets acquired, identifiable assets and goodwill recognized at the acquisition date:

($ in thousands)	Amount
Consideration
Cash	$	2,966
Contingent consideration arrangement	$	1,000
Fair value of total consideration transferred	$	3,966
Recognized amounts of identifiable assets
Total net assets acquired	$	21
Identifiable intangible assets	$	1,235
Total identifiable net assets	$	1,256
Goodwill	$	2,710

Schedule of Pro Forma Operations Results

	Three months ended March 31,				Nine months ended March 31,
(In thousands)	2023		2022		2023		2022
Revenues	$	60,356	$	54,620	$	187,806	$	159,285
Net income (loss)	5,832		1,545		(1,808)		(3,981)

The supplemental pro forma for the nine months ended March 31, 2023 was adjusted to exclude $2.8 million of acquisition related costs. The supplemental pro forma for the nine months ended March 31, 2022 was adjusted to include $2.8 million of acquisition related costs, the components of which were previously described.