Annual report pursuant to Section 13 and 15(d)

Operating Lease Obligations (Tables)

v3.23.3
Operating Lease Obligations (Tables)
12 Months Ended
Jun. 30, 2023
Operating Lease, Liability [Abstract]  
Lease Expense and Supplemental Balance Sheet Information Related to the Operating Lease Obligation

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

Years Ended June 30,

2023

2022

Operating lease cost:

$

563

$

Total lease cost

$

563

$

 

 

  

Other information:

 

  

 

  

Cash paid for amounts included in the measurement lease liability:

 

  

 

  

Operating cash flows from operating lease

$

563

$

Operating cash flows from operating lease obligation

$

307

$

June 30, 

2023

Operating lease ROU assets

$

2,722

Operating lease obligations - current portion

$

389

Operating lease obligations - noncurrent portion

$

3,125

Weighted average remaining lease term - operating leases

 

6.50

years

Weighted average discount rate - operating lease obligations

 

7.25

%

Future Minimum Payments under the Operating Lease Obligation

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

Fiscal year ending on June 30:

    

Principal

    

Imputed Interest

    

Total

2024

$

389

$

242

$

631

2025

436

212

648

2026

 

490

 

179

 

669

2027

 

546

 

142

 

688

2028

 

610

 

100

 

710

Thereafter

 

1,043

 

61

 

1,104

 

  

 

  

 

  

Total minimum lease payments

 

3,514

$

936

$

4,450

Less: current portion

 

(389)

 

  

 

  

Long-term portion of minimum lease obligation

$

3,125