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LEASES | 6 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
LEASES | Company As Lessor Operating leases under which the Company is the lessor arise from the leasing of the Company’s commercial real estate investment property to third parties. Initial lease terms generally range from 12 to 60 months. Depreciation expense for assets subject to operating leases is taken into account primarily on the straight-line method over a period of twenty years in amounts necessary to reduce the carrying amount of the asset to its estimated residual value. Depreciation expenses relating to the property held as investments in operating leases were $17 and $34 for the three and six months ended December 31, 2019 and $14 and $28 for the same period in the last fiscal year. Future minimum rental income in China to be received from fiscal year 2020 to fiscal year 2021 on non-cancellable operating leases is contractually due as follows as of December 31, 2019:
Remainder of fiscal 2020 |  | $ | 34 |
2021 |  | $ | 20 |
|  | $ | 54 |
Future minimum rental income in China to be received from fiscal year 2020 to fiscal year 2021 on non-cancellable operating leases is contractually due as follows as of June 30, 2019:
2020 |  | $ | 72 |
2021 |  | $ | 6 |
|  | $ | 78 |
Company As Lessee The Company has operating leases for corporate offices and research and development facilities with remaining lease terms of 1 year to 3 years and finance leases for plant and equipment. Supplemental balance sheet information related to leases is as follows (in thousands):
|  |  |  | Dec. 31,
|  |  |  | 2019
Components of Lease Balances |  | Classification |  | (Unaudited)
Assets |  |  |  |  |  |
Operating Lease Assets |  | Right-of-use asset-operating, net |  | $ | 475 |
Finance Lease Assets |  | Property, plant & equipment |  |  | 1,998 |
Accumulated Amortization ROU |  |  |  |  | 751 |
Assets |  | Property, plant & equipment |  | $ | 1,247 |
Total Leased Assets |  |  |  | $ | 1,722 |
Liabilities |  |  |  |  |  |
Operating Leases Liabilities |  |  |  |  |  |
Current Portion |  | Current portion of lease liability-operating |  | $ | 343 |
Long-term portion |  | Lease liability- Operating, net of Current portion |  |  | 134 |
Total operating lease liabilities |  |  |  | $ | 477 |
Finance Leases Liabilities |  |  |  |  |  |
Current portion of finance leases |  | Current portion of lease liability-finance |  | $ | 286 |
Net of current portion of finance leases |  | Lease liability- Finance , net of Current portion |  |  | 570 |
Total finance lease liabilities |  |  |  | $ | 856 |
Total lease liabilities |  |  |  | $ | 1,333 |
|  | 3 Months Ended |  | 6 Months Ended
|  | Dec. 31, 2019
Lease Cost |  |  |  |  |  |  |  |
Finance Lease Cost: |  |  |  |  |  |  |  |
Interest on Lease Liability |  |  | 3 |  |  | $ | 24 |
Amortisation of Right-of-use Asset |  |  | 69 |  |  |  | 136 |
Total Finance Lease Cost |  |  | 72 |  |  |  | 150 |
Operating Lease Costs $ |  |  | 184 |  |  | $ | 359 |
Other information related to leases were as follows (in thousands except lease term and discount rate):
|  | Dec. 31,
|  | 2019
|  | (Unaudited)
Cash Paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from finance leases |  | $ | 24 |
Operating cash flows from operating leases |  | $ | 359 |
Finance cash flows from finance leases |  | $ | 127 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  |  |
Weighted-average remaining lease term: |  |  |  |
Finance leases |  |  | 3.67 |
Operating leases |  |  | 0.97 |
Weighted-average Discount Rate: |  |  |  |
Finance leases |  |  | 3.43 | %
Operating leases |  |  | 3.25 | %
As of December 31, 2019, the maturities of the Company's operating lease liabilities are as follow:
|  | Operating lease Liabilities |  | Finance Lease Liabilities
Fiscal Year |  |  |  |  |  |  |  |
Remainder of 2020 |  | $ | 309 |  |  | $ | 199 |
2021 |  |  | 155 |  |  |  | 276 |
2022 |  |  | 29 |  |  |  | 220 |
2023 |  |  | — |  |  |  | 139 |
2024 |  |  | — |  |  |  | 99 |
Thereafter |  |  |  |  |  |  | 22 |
Total future minimum lease payments |  | $ | 493 |  |  | $ | 955 |
Less: amount representing interest |  |  | (16 | ) |  |  | (99 | )
Present value of net minimum lease payments |  |  | 477 |  |  |  | 856 |
Presentation on statement of financial position |  |  |  |  |  |  |  |
Current |  | $ | 343 |  |  | $ | 286 |
Non Current |  | $ | 134 |  |  | $ | 570 |
As of Jun 30, 2019, future minimum lease payments under finance leases and non-cancelable operating leases were as follows:
|  | Operating lease Liabilities |  | Finance Lease Liabilities
| Fiscal Year |  |  |  |  |  |  |  |  |
| 2020 |  |  | $ | 620 |  |  | $ | 283 |
| 2021 |  |  |  | 216 |  |  |  | 187 |
| 2022 |  |  |  | 47 |  |  |  | 143 |
| 2023 |  |  |  | 1 |  |  |  | 68 |
| 2024 |  |  |  | — |  |  |  | 44 |
| Total future minimum lease payments |  |  | $ | 884 |  |  | $ | 725 |

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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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