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Note 24 - Leases | 12 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Lessee and Lessor, Leases [Text Block] | 24. LEASES Company as Lessor Operating leases under which the Company is the lessor arise from leasing 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 expense relating to the property held as investments in operating leases were $75 and $72 for the years ended June 30, 2022 and 2021, respectively. Future minimum rental income in China and Thailand to be received from fiscal year ended June 30, 2023 to fiscal year ended June 30, 2027 on non-cancellable operating leases, and is contractually due as of June 30, 2022, as follows:
2023 |  | $ | 6 |
2024 |  | $ | 27 |
2025 |  | $ | 28 |
2026 |  | $ | 29 |
2027 |  | $ | 10 |
|  | $ | 100 |
Future minimum rental income in China and Thailand to be received from Fiscal 2022 to the fiscal year ended June 30, 2023 on non-cancellable operating leases, and is contractually due as of June 30, 2021, as follows:
2022 |  | $ | 145 |
2023 |  | $ | 16 |
|  | $ | 161 |
Sales-type leases under which the Company is the lessor arise from the lease of four units of chiller systems. The Company classifies its lease arrangements at inception of the arrangement. The lease term is 3 years, contains an automatic transfer of title at the end of the lease term and a guarantee of residual value at the end of the lease term. The customer is required to pay for executory cost such as taxes. Financing receivables, consisting of net investment in sales-type leases and receivables from financed sales of four units of chiller systems are as follows:
Components of Lease Balances |  | June 30, |
|  | 2022 |
Assets |  |  |  |
Gross financial sales receivable |  | $ | 41 |
Unearned finance income |  |  | (3 | )
Financed Sales Receivable |  | $ | 38 |
Net financed sales receivables due within one year |  | $ | 21 |
Net financed sales receivables due after one year |  | $ | 17 |
As of June 30, 2022, the financed sale receivables had a weighted average effective interest rate of 11.16% and weighted average remaining lease term of 1.75 years. Company as Lessee The Company has operating leases for corporate offices and research and development facilities with remaining lease terms of one year to five years and finance leases for plant and equipment. Supplemental balance sheet information related to leases is as follows (in thousands):
|  |  |  | June 30, |
Components of Lease Balances | Classification |  |  | 2022 |
Assets |  |  |  |  |
Operating lease assets | Right-of-use asset-operating, net |  | $ | 3,152 |
Finance lease assets | Property, plant & equipment |  |  | 1,727 |
Accumulated amortization Right-of-use asset |  |  | (1,179 | )
Assets | Property, plant & equipment |  | $ | 548 |
Total Leased Assets |  | $ | 3,700 |
Liabilities |  |  |  |  |
Operating Lease Liabilities |  |  |  |  |
Current portion | Current portion of lease liability- operating |  | $ | 1,218 |
Long-term portion | Lease liability- operating, net of current portion |  |  | 1,934 |
Total Operating Lease Liabilities |  | $ | 3,152 |
Finance Lease Liabilities |  |  |  |  |
Current portion of finance leases | Current portion of lease liability- finance |  | $ | 118 |
Net of current portion of finance leases | Lease liability- finance, net of current portion |  |  | 119 |
Total Finance Lease Liabilities |  | $ | 237 |
Total Lease Liabilities |  | $ | 3,389 |
|  | June 30, 2022 |
Lease Cost |  |  |  |
Finance lease cost: |  |  |  |
Interest on lease liability |  | $ | 29 |
Amortization of right-of-use asset |  |  | 209 |
Total Finance Lease Cost |  |  | 238 |
Operating Lease Costs |  | $ | 949 |
Other information related to leases was as follows (in thousands except lease term and discount rate):
|  | June 30, |
|  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from finance leases |  | $ | (21 | )
Operating cash flows from operating leases |  | $ | (1,151 | )
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 1,276 |
Weighted average remaining lease term (years): |  |  |  |
Finance leases |  |  | 2.02 |
Operating leases |  |  | 2.83 |
Weighted average discount rate: |  |  |  |
Finance leases |  |  | 3.26 |
Operating leases |  |  | 5.53 |
As of June 30, 2022, the maturities of the Company's operating and finance lease liabilities were as follow:
|  | Operating Lease Liabilities |  |  | Finance Lease Liabilities |
Fiscal Year |  |  |  |  |  |  |  |
2023 |  |  | 1,357 |  |  |  | 129 |
2024 |  |  | 1,032 |  |  |  | 104 |
2025 |  |  | 554 |  |  |  | 20 |
2026 |  |  | 423 |  |  |  | - |
Thereafter |  |  | 69 |  |  |  | - |
Total future minimum lease payments |  | $ | 3,435 |  |  | $ | 253 |
Less: amount representing interest |  |  | (283 | ) |  |  | (16 | )
Present value of net minimum lease payments |  |  | 3,152 |  |  |  | 237 |
Presentation on statement of financial position |  |  |  |  |
Current |  | $ | 1,218 |  |  | $ | 118 |
Non-Current |  | $ | 1,934 |  |  | $ | 119 |
As of June 30, 2021, the maturities of the Company's operating and finance lease liabilities were as follow:
|  | Operating Lease Liabilities |  |  | Finance Lease Liabilities |
Fiscal Year |  |  |  |  |  |  |  |
2022 |  |  | 748 |  |  |  | 218 |
2023 |  |  | 537 |  |  |  | 137 |
2024 |  |  | 313 |  |  |  | 111 |
2025 |  |  | 291 |  |  |  | 22 |
Thereafter |  |  | 156 |  |  |  | - |
Total future minimum lease payments |  | $ | 2,045 |  |  | $ | 488 |
Less: amount representing interest |  |  | (169 | ) |  |  | (38 | )
Present value of net minimum lease payments |  |  | 1,876 |  |  |  | 450 |
Presentation on statement of financial position |  |  |  |  |
Current |  | $ | 672 |  |  | $ | 197 |
Non-Current |  | $ | 1,204 |  |  | $ | 253 |

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