Quarterly report pursuant to Section 13 or 15(d)

Finance Lease Obligation (Tables)

v3.22.2.2
Finance Lease Obligation (Tables)
3 Months Ended
Sep. 30, 2022
Finance Lease Obligation [Abstract]  
Schedule of components of lease expense and supplemental balance sheet information related to the finance lease obligation

The following tables present the components of lease expense and supplemental balance sheet information related to the finance lease obligation (in thousands).

    

Three Months Ended

Three Months Ended

September 30, 

September 30, 

2022

2021

Finance lease cost:

 

  

  

Amortization of ROU assets

$

13

$

12

Interest on lease liabilities

 

1

 

2

Total lease cost

$

14

$

14

 

  

 

  

Other information:

 

  

 

  

Cash paid for amounts included in the measurement lease liabilities:

 

  

 

  

Operating cash flows from finance lease

$

$

Financing cash flows from finance lease obligations

$

10

$

10

Schedule of finance lease and weighted average information

September 30, 

June 30,

2022

2022

Finance lease ROU assets

$

875

$

74

Finance lease obligation - current portion

$

303

$

46

Finance lease obligation - noncurrent portion

$

576

$

30

Weighted average remaining lease term - finance lease

 

2.74

years

 

1.76

years

Weighted average discount rate - finance lease obligation

 

9.26

%

 

6.250

%

Future Minimum Payments Under the Finance Lease Obligation

Future minimum payments under the finance lease obligation are due as follows (in thousands):

Fiscal period ending on September 30:

    

Principal

    

Interest

    

Total

2023

$

303

$

66

$

369

2024

297

41

338

2025

 

279

 

14

 

293

 

  

 

  

 

  

Total minimum lease payments

 

879

$

121

$

1,000

Less: current portion

 

(303)

 

  

 

  

Long-term portion of minimum lease obligations

$

576