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Lease Commitments

3 Months Ended

Sep. 30, 2018

Leases [Abstract]

Lease Commitments

We lease various facilities under non-cancelable operating leases, expiring through 2022. Our leased facilities are located in Orlando, Florida; Irvington, New York; Riga, Latvia; Shanghai, China; and Zhenjiang, China. Rent expense totaled approximately $238,000 and $258,000 during the three months ended September 30, 2018 and 2017, respectively.

We currently have obligations under four capital lease agreements, entered into during fiscal years 2016, 2017, and 2018, with terms ranging from three to five years. The leases are for computer and manufacturing equipment, which are included as part of property and equipment. Assets under capital lease include approximately $1.5 million in manufacturing equipment, with accumulated amortization of approximately $722,000 as of September 30, 2018. Amortization related to capital lease assets is included in depreciation and amortization expense.

The approximate future minimum lease payments under capital and operating leases at September 30, 2018 were as follows:

		Capital Leases				Operating Leases
Fiscal year ending:
June 30, 2019 (nine months remaining)		$	249,003			$	728,000
June 30, 2020			309,122				924,000
June 30, 2021			234,478				679,000
June 30, 2022			58,307				558,000
June 30, 2023			—				60,869
Total minimum payments			850,910			$	2,949,869
Less imputed interest			(93,485	)
Present value of minimum lease payments included in capital lease obligations			757,425
Less current portion			279,204
Non-current portion		$	478,221