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Note J - Lease Obligations | 12 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Leases of Lessee Disclosure [Text Block] | J . LEASE OBLIGATIONS In accordance with ASC 842, Leases, the Company’s leases with terms longer than twelve months are recorded on the consolidated balance sheets. The Company leases certain office and warehouse space, as well as production and office equipment. The Company had $14,138 and $6,527 of operating lease right-of-use assets recorded in property, plant and equipment, net as of June 30, 2019 and June 30, 2018, respectively. The Company had $14,130 and $6,527 of operating lease liabilities recorded in lease obligations as of June 30, 2019 and June 30, 2018, respectively. The Company had $545 and $11 of finance lease right-of-use assets recorded in property, plant and equipment, net as of June 30, 2019 and June 30, 2018, respectively. The Company had $553 and $0 of finance lease liabilities recorded in lease obligations as of June 30, 2019 and June 30, 2018, respectively Approximate future minimum rental commitments under non-cancellable leases as of June 30, 2019 were as follows:
|  | Operating Leases |  |  | Finance Leases |
2020 |  | $ | 3,186 |  |  | $ | 136 |
2021 |  |  | 2,489 |  |  |  | 136 |
2022 |  |  | 1,950 |  |  |  | 136 |
2023 |  |  | 1,722 |  |  |  | 132 |
2024 |  |  | 1,532 |  |  |  | 112 |
Thereafter |  |  | 11,112 |  |  |  | - |
Total future lease payments |  |  | 21,991 |  |  |  | 652 |
Less: Amount representing interest |  |  | (7,861 | ) |  |  | (99 | )
Present value of future payments |  | $ | 14,130 |  |  | $ | 553 |
The components of lease expense were as follows:
|  | For the Year Ended |
|  | June 30, 2019 |  |  | June 30, 2018 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 27 |  |  | $ | 3 |
Interest on lease liabilities |  |  | 8 |  |  |  | 1 |
Operating lease cost |  |  | 3,348 |  |  |  | 2,462 |
Short-term lease cost |  |  | 40 |  |  |  | 39 |
Variable lease cost |  |  | 37 |  |  |  | 8 |
Total lease cost |  |  | 3,460 |  |  |  | 2,513 |
Less: Sublease income |  |  | (222 | ) |  |  | (204 | )
Net lease cost |  | $ | 3,238 |  |  | $ | 2,309 |
Other information related to leases was as follows:
|  | For the Year Ended |
|  | June 30, 2019 |  |  | June 30, 2018 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 3,338 |  |  | $ | 2,417 |
Operating cash flows from finance leases |  |  | 18 |  |  |  | 3 |
Financing cash flows from finance leases |  |  | 9 |  |  |  | 1 |
Right-of-use-assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  |  | 13,875 |  |  |  | 4,019 |
Finance leases |  |  | 553 |  |  |  | - |
Weighted average remaining lease term (years): |  |  |  |  |  |  |  |
Operating leases |  |  | 11.1 |  |  |  | 5.6 |
Finance lease |  |  | 4.8 |  |  |  | 4.0 |
Weighted average discount rate: |  |  |  |  |  |  |  |
Operating leases |  |  | 7.7 | % |  |  | 7.2 | %
Finance leases |  |  | 7.3 | % |  |  | 3.9 | %

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- References No definition available. + Details
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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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