Company: PDEX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001079973-25-001655
Chunk: 6

Company: PRO DEX INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 6
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 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. Swenson or Cabillot or both may own from time to time either individually or through the investment funds that 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 

    September
    30, 2025  
    June 30,
    2025 
  
    Raw materials/purchased components	 
    $10,185  
    $10,397 
  
    Work in process	 
     6,904  
     7,422 
  
    Sub-assemblies/finished components	 
     2,972  
     2,874 
  
    Finished goods	 
     1,503  
     1,520 
  
             Total inventory	 
    $21,564  
    $22,213 

Intangibles

Intangibles
consist of the following (in thousands): 

    Schedule of intangibles  

    September
    30, 2025  
    June 30,
    2025 
  
    Patent-related costs	 
    $208  
    $208 
  
           Less accumulated amortization	 
     (189) 
     (182)
  
     Intangible assets, net 
    $19  
    $26 

Patent-related
costs consist of legal fees incurred in connection with both patent applications and a patent issuance and will be amortized over the
estimated life of the product(s) that is or will be utilizing the technology, or expensed immediately in the event the patent office
denies the issuance of the patent. These patent-related costs are expected to be fully amortized during fiscal 2026.

NOTE 6. WARRANTY

The