v3.23.3

Finance Lease Obligations | 3 Months Ended
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Sep. 30, 2023
Finance Lease Obligations [Abstract] |
Finance Lease Obligations | 14. Finance Lease Obligations Sublease As discussed above, until November 1, 2021, iBio CDMO leased the Facility as well as certain equipment from College Station under the Sublease. The Sublease was terminated on November 1, 2021, when iBio CDMO acquired the Facility and became the tenant under the ground lease for the property upon which the Facility is located. See Note 15 – Operating Lease Obligations for additional information related to the ground lease. Equipment As discussed above, the Company assumed three equipment leases that were accounted for as finance leases totaling approximately $814,000 as part of the RubrYc Asset Purchase Agreement. The monthly rental for the three leases is approximately $27,000 per month and all three expire on August 1, 2025. Mobile Office Trailer ​ Commencing April 1, 2021, the Company leased a mobile office trailer that was located at the Facility in Bryan, Texas, at a monthly rental of $3,819 through March 31, 2024. In December 2022, the Company terminated the lease and returned the mobile office trailer. Expenses related to the lease prior to its termination are included in discontinued operations. ​ The following tables present the components of lease expense and supplemental balance sheet information related to the finance lease obligation (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended | ​ | Three Months Ended
​ | ​ | September 30, | ​ | September 30,
​ | ​ | 2023 | ​ | 2022
Finance lease cost: |  | ​ |  | ​ | ​ |
Amortization of ROU assets | ​ | $ | 68 | ​ | $ | —
Interest on lease liabilities | ​ |  | 14 | ​ |  | —
Total lease cost | ​ | $ | 82 | ​ | $ | —
​ | ​ |  |  | ​ |  |
Other information: | ​ |  |  | ​ |  |
Cash paid for amounts included in the measurement lease liabilities: | ​ |  |  | ​ |  |
Operating cash flows from finance lease | ​ | $ | — | ​ | $ | —
Financing cash flows from finance lease obligations | ​ | $ | 66 | ​ | $ | —
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | June 30,
​ | ​ | 2023 | ​ | 2023
Finance lease ROU assets | ​ | $ | 542 | ​ | ​ | $ | 610 | ​
Finance lease obligation - current portion | ​ | $ | 278 | ​ | ​ | $ | 272 | ​
Finance lease obligation - noncurrent portion | ​ | $ | 279 | ​ | ​ | $ | 351 | ​
Weighted average remaining lease term - finance lease | ​ |  | 1.92 | years | ​ |  | 2.17 | years
Weighted average discount rate - finance lease obligation | ​ |  | 9.50 | % | ​ |  | 9.50 | %
​ Future minimum payments under the finance lease obligation are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fiscal year ending on September 30: |  | Principal |  | Interest |  | Total
2024 | ​ | $ | 278 | ​ | $ | 41 | ​ | $ | 319
2025 | ​ | ​ | 279 | ​ | ​ | 14 | ​ | ​ | 293
​ |  | ​ |  |  | ​ |  |  | ​ |
Total minimum lease payments |  | ​ | 557 | ​ | $ | 55 | ​ | $ | 612
Less: current portion |  | ​ | (278) | ​ |  |  | ​ |  |
Long-term portion of minimum lease obligations | ​ | $ | 279 | ​ |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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