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Lease Commitments

6 Months Ended

Dec. 31, 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 $505,000 and $522,000 during the six months ended December 31, 2018 and 2017, respectively.

We currently have obligations under five capital lease agreements, entered into during fiscal years 2016, 2017, 2018, and 2019, 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 $1.9 million in manufacturing equipment, with accumulated amortization of approximately $771,000 as of December 31, 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 December 31, 2018 were as follows:

		Capital Leases				Operating Leases
Fiscal year ending:
June 30, 2019 (six months remaining)		$	232,590			$	514,000
June 30, 2020			442,299				923,000
June 30, 2021			367,654				679,000
June 30, 2022			191,484				558,000
June 30, 2023			—				60,869
Total minimum payments			1,234,027			$	2,734,869
Less imputed interest			(132,577	)
Present value of minimum lease payments included in capital lease obligations			1,101,450
Less current portion			(390,881	)
Non-current portion		$	710,569