Quarterly report pursuant to Section 13 or 15(d)

Finance Lease ROU Assets

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Finance Lease ROU Assets
9 Months Ended
Mar. 31, 2024
Finance Lease ROU Assets [Abstract]  
Finance Lease ROU Assets

9.   Finance Lease ROU Assets

The Company assumed three equipment leases as part of the RubrYc asset acquisition (see Note 6 – Significant Transactions). In addition, the Company leased a mobile office trailer which was classified as part of assets held for sale prior to its termination. The mobile office trailer lease was terminated in December 2022. See Note 14 – Finance Lease Obligations for more details of the terms of the leases.

The following table summarizes by category the gross carrying value and accumulated amortization of finance lease ROU (in thousands):

    

March 31, 

    

June 30, 

2024

2023

ROU - Equipment

$

814

$

814

Accumulated amortization

 

(407)

 

(204)

Net finance lease ROU assets

$

407

$

610

Amortization of finance lease ROU assets was approximately $67,000 and $68,000 for the three months ended March 31, 2024 and 2023, respectively. Amortization of finance lease ROU assets approximately $203,000 and $136,000 for the nine months ended March 31, 2024 and 2023, respectively.