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LEASES | 9 Months Ended
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Jun. 30, 2023
LEASES |
LEASES | NOTE 17 – LEASES We have entered into various operating lease agreements for certain offices, manufacturing and warehouse facilities, and corporate aircraft. Operating leases led to recognition of right-of-use assets, and current and noncurrent portion of lease liabilities, as appropriate. The right-of-use assets also include any lease payments made and initial direct costs incurred at lease commencement and exclude lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have lease agreements which require payments for both lease and non-lease components and have elected to account for these as a single lease component. Certain leases provide for annual increases to lease payment based on an index or rate. We calculate the present value of future lease payments based on the index or at the lease commencement date for new leases. The table below presents information regarding our lease assets and liabilities:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2023 |  | September 30, 2022 |
Assets: |  | ​ |  |  | ​ |  | ​
Operating lease right-of-use assets | ​ | $ | 5,504,851 | ​ | $ | 4,597,052 | ​
Liabilities: | ​ |  | ​ | ​ |  |  | ​
Operating lease liabilities, current | ​ |  | (2,217,059) | ​ |  | (1,428,474) | ​
Operating lease liabilities, non-current | ​ |  | (3,709,616) | ​ |  | (3,359,354) | ​
Total lease liabilities | ​ | $ | (5,926,675) | ​ | $ | (4,787,828) | ​
Weighted average remaining lease terms: | ​ |  |  | ​ |  |  | ​
Operating leases | ​ |  | 2.66 years | ​ |  | 2.63 years | ​
Weighted average discount rate: | ​ |  |  | ​ |  |  | ​
Operating leases | ​ |  | 28 | % |  | 28 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease costs: | ​ | For the three months ended June 30, | ​ | For the nine months ended June 30, |
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Fixed lease cost | ​ | $ | 330,175 | ​ | $ | 327,409 | ​ | $ | 887,294 | ​ | $ | 1,066,680 | ​
Variable lease cost | ​ |  | 85,298 | ​ |  | 158,399 | ​ |  | 147,120 | ​ |  | 418,999 | ​
Short-term lease cost | ​ |  | — | ​ |  | 34,473 | ​ |  | — | ​ |  | 160,250 | ​
Sublease income | ​ |  | (108,127) | ​ |  | (46,144) | ​ |  | (201,875) | ​ |  | (152,431) | ​
Total operating lease costs | ​ | $ | 307,346 | ​ | $ | 474,137 | ​ | $ | 832,539 | ​ | $ | 1,493,498 | ​
​ Operating Lease Commitments Our lease obligations are based upon contractual minimum rates. Most leases provide that we pay taxes, maintenance, insurance and operating expenses applicable to the premises. The initial term for most real property leases is typically 1 to 3 years, with renewal options of 1 to 5 years, and may include rent escalation clauses. The following table reflects maturities of operating lease liabilities at June 30, 2023: ​
​ | ​ | ​ | ​
Years ending |  | ​ |
June 30, |  | ​ | ​
2023 (3 months) |  | $ | 874,278
2024 | ​ |  | 3,074,497
2025 | ​ |  | 2,423,880
2026 | ​ |  | 610,913
2027 | ​ |  | 417,425
Thereafter | ​ |  | 115,668
Total lease payments | ​ | $ | 7,516,661
Less: imputed interest | ​ |  | (1,589,986)
Present value of lease liabilities | ​ | $ | 5,926,675
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating 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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