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LEASES
 3 Months Ended
Dec. 31, 2021
Leases  
LEASES

 

NOTE 12 LEASES

 

The Company’s operating leases are primarily for corporate, sales and administrative office space. Total operating lease expense for the three months ended December 31, 2021 was $156,000, of which $14,000 was recorded in sales and marketing expenses and $142,000 was recorded in general and administrative expenses on the condensed consolidated statements of operations. Total operating lease expense for the three months ended December 31, 2020 was $153,000, of which $14,000 was recorded in sales and marketing expenses and $139,000 was recorded in general and administrative expenses on the condensed consolidated statements of operations. Cash paid for amounts included in operating lease liabilities for the three months ended December 31, 2021 and 2020, which have been included in cash flows from operating activities, was $149,000 and $111,000, respectively.

 

At December 31, 2021, the Company’s operating leases had a weighted average remaining lease term of 8.8 years and a weighted average discount rate of 5.6%.

 

At December 31, 2021, future minimum payments under non-cancellable operating leases were as follows:

 

     
Remainder of Fiscal 2022  $452,000 
Fiscal 2023   626,000 
Fiscal 2024   639,000 
Fiscal 2025   556,000 
Fiscal 2026   510,000 
Thereafter   2,398,000 
Total future minimum lease payments   5,181,000 
Less imputed interest   (1,170,000)
Present value of lease liabilities  $4,011,000