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Note 12 - Leases

3 Months Ended

Dec. 31, 2023

12. Leases

The Company leases facilities in the United States for its corporate and regional field offices. During the three months ended December 31, 2023, the Company was also a lessee/sublessor for certain office locations. During the first quarter of fiscal 2024, the Company remeasured its operating lease liability for one its sublet locations as a result of a change in the expected lease term. Such remeasurement resulted in an adjustment to the operating lease asset of less than $0.1 million, equal to the amount in which the operating lease liability was remeasured.

The components of net lease costs were as follows:

	*Three Months Ended December 31,*
	*2023*			*2022*
Condensed Consolidated Statement of Operations:
Operating lease cost	$	66		$	64
Variable lease cost		35			37
Less: Sublease income, net		(55	)		(39	)
Total	$	46		$	62

Cash paid for amounts included in the measurement of lease liabilities was $174 thousand and $58 thousand for the three months ended December 31, 2023 and 2022, all of which represents operating cash flows from operating leases. As of December 31, 2023, the weighted average remaining lease term was 1.7 years and the weighted average discount rate was 7.0%.

At December 31, 2023, future minimum rental commitments under non-cancelable leases with initial or remaining terms in excess of one year were as follows:

	*Operating Leases*			*Receipts Subleases*		*Net Leases*
Fiscal year:
2024 (remaining)	$	118		$	60	$	58
2025		192			66		126
2026		-			-		-
2027		-			-		-
2028		-			-		-
Thereafter		-			-		-
Total lease commitments		310			126		184
Less: Amount representing interest		(16	)
Present value of lease liabilities		294
Less: current portion		(172	)
Operating lease liabilities, net of current portion	$	122

During the three months ended December 31, 2023 the Company entered into a sublease for its Rosemont, Illinois location. The sublease is for $6 thousand a month and has a term through August 31, 2025.