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Leases (Tables)
 3 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Lease costs
   

Three

Months Ended September 30,

2019

  
Operating lease cost   $ 164,871  
Finance lease cost:        
Depreciation of lease assets   $ 86,063  
Interest on lease liabilities   $ 22,532  
Total finance lease cost   $ 108,595  
Total lease cost   $ 273,466  
Supplemental lease information

Supplemental balance sheet information related to leases was as follows:

 

    Classification   As of September 30, 2019
Assets:        
Operating lease assets   Operating lease assets    $ 1,607,458
Finance lease assets   Property and equipment, net(1)                        999,297
Total lease assets        $ 2,606,755
         
Liabilities:        
Current:        
Operating leases   Operating lease liabilities, current    $ 730,106
Short-term leases   Accrued liabilities(2)                        375,347
Finance leases   Finance lease liabilities, current                        384,325
         
Noncurrent:        
Operating leases   Operating lease liabilities, less current portion                     1,443,023
Finance leases   Finance lease liabilities, less current portion                        556,765
Total lease liabilities        $ 3,489,566

 

(1) Finance lease assets are recorded net of accumulated depreciation of approximately $986,000 as of September 30, 2019.

 

(2) Represents accrual related to the lease of the Irvington Facility, which we ceased use of as of June 30, 2019. All remaining lease payments were accrued as of that date, through the lease expiration in September 2020. See Note 14, Restructuring, to these unaudited Condensed Consolidated Financial Statements for additional information.

 

Lease term and discount rate information related to leases was as follows:

 

Lease Term and Discount Rate

   As of September 30, 2019  
Weighted Average Remaining Lease Term (in years)      
Operating leases     2.9  
Finance leases     2.9  
         
Weighted Average Discount Rate        
Operating leases     4.9 %
Finance leases     8.0 %

 

Supplemental cash flow information:

 

Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash used for operating leases   $ 189,715  
Operating cash used for finance leases   $ 22,545  
Financing cash used for finance leases   $ 103,618  

 
Future maturities of lease liabilities

Fiscal year ending June 30,

   Finance Leases     Operating Leases  
June, 30 2020 (nine months remaining)   $ 356,228     $ 603,002  
June 30, 2021     407,954       825,431  
June 30, 2022     231,783       767,296  
June 30, 2023     59,647       156,587  
Total future minimum payments   $ 1,055,612     $ 2,352,316  
   Less imputed interest     (114,522 )     (179,187 )
Present value of lease liabilities   $ 941,090     $ 2,173,129