Company: PDEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001079973-25-000729
Chunk: 6

Company: PRO DEX INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 6
---
 a warrant to purchase common stock of Monogram (the “Monogram Warrant”) in full in
cash totaling $1,250,000 and received 1,828,551 shares of Monogram common stock (NasdaqCM: MGRM). The fair value of the Monogram common
stock is reflected in marketable equity securities – short term in the tables above. Our Chief Executive Officer, Richard Van Kirk
(“Rick”), is also a Monogram board member.

We invest
surplus cash from time to time through our Investment Committee, which is comprised of one management director, Rick Van Kirk, and two
non-management directors, Raymond Cabillot and Nicholas Swenson, who chairs the committee. Both Messrs. Cabillot and Swenson are active
investors with extensive portfolio management expertise. We leverage the experience of these committee members to make investment decisions
for our surplus operating capital or borrowed funds. Additionally, many of our securities holdings include stocks of public companies
that either Messrs. Cabillot or Swenson or both may own from time to time either individually or through the investment funds they manage,
or other companies whose boards they sit on, such as Air T, Inc.

    9 
    PRO-DEX INC. AND SUBSIDIARYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 

NOTE 5. COMPOSITION OF CERTAIN FINANCIAL
STATEMENT ITEMS

Inventory

Inventory
is stated at the lower of cost (first-in, first-out) or net realizable value and consists of the following (in thousands):

    Schedule of investments  

    March
    31, 2025  
    June 30,
    2024 
  
    Raw materials /purchased components	 
    $10,065  
    $6,703 
  
    Work in process	 
     9,332  
     5,103 
  
    Sub-assemblies/finished components	 
     2,856  
     2,342 
  
    Finished goods	 
     1,179  
     1,121 
  
    Total inventory	 
    $23,432  
    $15,269 

Land and building

Land and building consist
of the following (in thousands):

    Schedule of land and building  

    March
    31, 2025  
    June 30,