XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.22.2

Note 12 - Leases | 9 Months Ended
--- | ---
Jun. 30, 2022
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
12. | LEASES
The Company determines if an arrangement is a lease at inception. The guidance in ASC 842 defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating lease ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. The Company’s leases do not provide an implicit rate. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Additionally, the portfolio approach is used in determining the discount rate used to present value lease payments. The ROU asset includes any lease payments made and excludes lease incentives and initial direct costs incurred. The Company is party to operating leases for office and production facilities and equipment under agreements that expire at various dates through 2028. The Company elected the package of practical expedients permitted under the lease standard. In electing the practical expedient package, the Company is not required to reassess whether an existing or expired contract is or contains a lease, reassess the lease classification for expired or existing leases nor reassess the initial direct costs for leases that commenced before the adoption of ASC 842. The Company also elected the short-term lease exemption such that the lease standard was applied to leases greater than one year in duration. Leases with an initial term of twelve months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. During the nine months ended June 30, 2022, the Company added an additional operating lease ROU asset of $7 and operating lease liability of $7 for office equipment. The tables below show the operating lease ROU assets and liabilities as of September 30, 2021, and the balances as of June 30, 2022, including the changes during the periods.
|  | Operating lease ROU assets |
Operating lease ROU assets as of September 30, 2021 |  | $ | 4,862 |
Additional operating lease ROU asset |  |  | 7 |
Less amortization of operating lease ROU assets |  |  | (543 | )
Effect of exchange rate on operating lease ROU assets |  |  | (11 | )
Operating lease ROU assets as of June 30, 2022 |  | $ | 4,315 |
|  | Operating lease liabilities |
Operating lease liabilities as of September 30, 2021 |  | $ | 6,608 |
Additional operating lease liability |  |  | 7 |
Less lease principal payments on operating lease liabilities |  |  | (665 | )
Effect of exchange rate on operating lease liabilities |  |  | (11 | )
Operating lease liabilities as of June 30, 2022 |  |  | 5,939 |
Less non-current portion |  |  | (5,057 | )
Current portion as of June 30, 2022 |  | $ | 882 |
As of June 30, 2022, the Company’s operating leases have a weighted-average remaining lease term of 6.0 years and a weighted-average discount rate of 4.14%. The maturities of the operating lease liabilities are as follows:
Fiscal year ending September 30, |  |  |  |
2022 (remaining three months) |  | $ | 289 |
2023 |  |  | 1,087 |
2024 |  |  | 1,084 |
2025 |  |  | 1,058 |
2026 |  |  | 1,071 |
Thereafter |  |  | 2,139 |
Total undiscounted operating lease payments |  |  | 6,728 |
Less imputed interest |  |  | (789 | )
Present value of operating lease liabilities |  | $ | 5,939 |
For the three months ended June 30, 2022 and 2021, total lease expense under operating leases was approximately $245 and 246, respectively. For each of the nine months ended June 30, 2022 and 2021, total lease expense under operating leases was approximately $735. The Company did not have any short-term lease expense during the nine months ended June 30, 2022 and 2021.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration