Quarterly report pursuant to Section 13 or 15(d)

Finance Lease Obligations (Tables)

v3.23.3
Finance Lease Obligations (Tables)
3 Months Ended
Sep. 30, 2023
Finance Lease Obligations [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, 

2023

2022

Finance lease cost:

 

  

  

Amortization of ROU assets

$

68

$

Interest on lease liabilities

 

14

 

Total lease cost

$

82

$

 

  

 

  

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

$

66

$

September 30, 

June 30,

2023

2023

Finance lease ROU assets

$

542

$

610

Finance lease obligation - current portion

$

278

$

272

Finance lease obligation - noncurrent portion

$

279

$

351

Weighted average remaining lease term - finance lease

 

1.92

years

 

2.17

years

Weighted average discount rate - finance lease obligation

 

9.50

%

 

9.50

%

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

2024

$

164

$

31

$

195

2025

182

12

194

2026

 

16

 

 

16

 

  

 

  

 

  

Total minimum equipment financing payments

 

362

$

43

$

405

Less: current portion

 

(164)

 

  

 

  

Long-term portion of minimum equipment financing obligation

$

198

 

  

 

  

Capitalized Lease, Liability, to be Paid, Maturity [Table Text Block]

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

Fiscal year ending on September 30:

    

Principal

    

Interest

    

Total

2024

$

278

$

41

$

319

2025

279

14

293

 

  

 

  

 

  

Total minimum lease payments

 

557

$

55

$

612

Less: current portion

 

(278)

 

  

 

  

Long-term portion of minimum lease obligations

$

279