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Note 16 - Subsequent Events
3 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

(16) Subsequent Events

 

Share Repurchase Program

 

On November 9, 2022, the Company’s Board of Directors authorized a share repurchase program that allows the Company to repurchase up to $1.0 million of the Company’s common stock beginning November 17, 2022, and continuing through and including November 17, 2023. The shares may be repurchased from time to time in open market or privately negotiated transactions or by other means in accordance with applicable state and federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management’s assessment of the intrinsic value of the Company’s common stock, the market price of the Company’s common stock, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal requirements, and other considerations. The exact number of shares to be repurchased by the Company is not guaranteed, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases with available working capital.

 

Austin, Texas Office Lease Extension

 

On November 11, 2022, the Company signed a lease extension agreement for the Company’s offices located in Austin, Texas, extending the term of the lease through March 2025. The Company’s total contractual base rent obligation for the ten-month extension is approximately $87 thousand.