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Commitments and Contingencies | 12 Months Ended
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Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies The Company is obligated under non-cancelable operating leases for equipment and office space. Future minimum payments under the operating leases are as follows (in thousands):
Year Ended June 30, |
2016 | $ | 505 |
2017 | 346 |
2018 | 355 |
2019 | 109 |
2020 | 88 |
Thereafter | — |
Total | $ | 1,403 |
Rent expense was approximately $0.3 million for each of the years ended June 30, 2015 and 2014. 1 st Detect presently leases two adjoining premises consisting of approximately 16,540 and 9,138 square feet in the city of Webster, Texas. The original lease began in May 2013 and expires in June 2018, with provisions to renew and extend the lease for the entire premises, but not less than the entire premises, for two renewal terms of five years each. 1 st Detect must in writing advise the landlord of its intention to renew the lease at least six months before the expiration of its current lease in order to renew the lease. The second lease amendment began February 1, 2015 and expires April 30, 2020. Employment Contracts The Company has entered into employment contracts with certain of its key executives. Generally, certain amounts may become payable in the event the Company terminates the executives’ employment. Legal Proceedings We are not party to, nor are our properties the subject of, any material pending legal proceedings, other than as set forth below: In January 2013, a lawsuit was filed against Astrotech Corporation by John Porter, the former Senior Vice President, Chief Financial Officer, Treasurer and Secretary of the Company. In the lawsuit, Mr. Porter alleged various breaches of contract claims in connection with his termination from the Company in August 2012. In April 2014, the Company reached a settlement of all claims asserted by Mr. Porter in this lawsuit. On February 20, 2013, a shareholder derivative lawsuit was filed in the District Court of Travis County, Texas against the current directors and chief executive officer of Astrotech Corporation and against the Company, as nominal defendant. The complaint alleged, among other things, that the directors and chief executive officer breached fiduciary duties to the Company in connection with certain corporate transactions, including loans to subsidiaries and purchases of outstanding shares of the Company’s common stock. In February 2014, the Texas Court of Appeals dismissed this lawsuit. Astrotech was named as a party to a suit filed in the Circuit Court of the Eighteenth Judicial Circuit for Brevard County, Florida. This was an action for foreclosure of certain real estate and for debt. The Company was named as a party because it held an inferior lien against the property at issue and had to be named in the foreclosure action. No monetary relief was requested from Astrotech at the time. In July 2014, the Company received a lump sum payment of $50 thousand, less legal fees, along with a release of liability in exchange for a release of its inferior mortgage. In October 2014, the underlying lawsuit was voluntarily dismissed and the case was closed.

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