Annual report pursuant to Section 13 and 15(d)

Finance Lease Obligation (Tables)

v3.20.2
Finance Lease Obligation (Tables)
12 Months Ended
Jun. 30, 2020
Finance Lease Obligation  
Schedule of components of lease expense and supplemental balance sheet information related to the finance lease obligation

 

 

 

 

 

    

June 30,

 

 

2020

Finance Lease Cost:

 

 

  

Amortization of right-of-use assets

 

$

1,661

Interest on lease liabilities

 

 

2,466

Operating Lease Cost

 

 

150

Total Lease Cost

 

$

4,277

 

 

 

  

Other Information

 

 

  

Cash paid for amounts included in the measurement lease liabilities:

 

 

  

Operating cash flows from operating lease

 

$

150

Financing cash flows from finance lease obligation

 

$

66

 

Schedule of future minimum payments under the finance lease obligation

 

 

 

 

 

 

    

June 30,

 

 

 

2020

 

Finance lease right-of-use assets

 

$

27,616

 

Finance lease obligation – current portion

 

$

301

 

Finance lease obligation – non-current portion

 

$

32,007

 

Weighted-average remaining lease term – finance lease

 

 

29.68

years

Weighted-average discount rate – finance lease obligation

 

 

7.608

%

 

Schedule of Future Minimum Lease Payments for Capital Leases

 

 

 

 

 

 

 

 

 

 

Fiscal year ending on June 30:

    

Principal

    

Interest

    

Total

2021

 

$

301

 

$

2,449

 

$

2,750

2022

 

 

324

 

 

2,426

 

 

2,750

2023

 

 

350

 

 

2,400

 

 

2,750

2024

 

 

377

 

 

2,373

 

 

2,750

2025

 

 

406

 

 

2,344

 

 

2,750

Thereafter

 

 

30,550

 

 

37,513

 

 

68,063

 

 

 

  

 

 

  

 

 

  

Total minimum lease payments

 

 

32,308

 

$

49,505

 

$

81,813

Less: current portion

 

 

(301)

 

 

  

 

 

  

Long-term portion of minimum lease obligations

 

$

32,007