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LEASES

12 Months Ended

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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- References

No definition available.

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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

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