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LEASES | 12 Months Ended
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Jun. 30, 2024
Leases |
LEASES |
| 14. | LEASES
Effective February 2023, the Company entered into a 39-month corporate office lease extension and recognized a corresponding ROU asset and lease liability of $198 associated with this extension, based on a discount rate of 16%. As of June 30, 2024 and 2023, the Company had one corporate office lease with a remaining lease term of 2.6 years and 3.6 years, respectively. During the year ended June 30, 2024 and 2023, operating cash flows included cash payments of $71 and $93, respectively related to the measurement of lease liabilities. The Company incurred lease costs as follows:
|  | For the year ended June 30, |
|  | 2024 |  |  | 2023 |
Operating Lease Cost: |  |  |  |  |  |  |  |
Fixed rent expense |  | $ | 90 |  |  | $ | 83 |
Variable rent expense |  |  | 14 |  |  |  | 13 |
Short term lease cost |  |  | 9 |  |  |  | 10 |
Sublease income |  |  | (32 | ) |  |  | (33 | )
Net lease cost – other operating expense |  | $ | 81 |  |  | $ | 73 |
The maturity of lease liabilities is as follows at June 30, 2024:
|  | Fiscal Year Lease Maturities |
2025 |  |  | 96 |
2026 |  |  | 98 |
2027 |  |  | 50 |
Total lease payments |  |  | 244 |
Less amount of payments representing interest |  |  | (44 | )
Present value of lease payments |  |  | 200 |
Less current portion of operating lease liability |  |  | (95 | )
Noncurrent operating lease liability |  | $ | 105 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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