17. Commitments and Contingencies

Operating Leases

The Company occupies office space under lease agreements expiring at various dates during the next two years, which all have renewal options and escalation clauses. The leases are classified as operating leases and provide for the payment of real estate taxes, insurance, utilities and maintenance. The Company also leases equipment under lease agreements expiring at various dates during the next four years.

The Company was obligated under non-cancelable operating leases with an initial term in excess of one year as follows:


Fiscal year ending September 30:	(Amounts in thousands)
2020	$	475
2021		173
2022		58
2023		43
Total	$	749

Occupancy expenses under the operating leases approximated $0.7 million in 2019 and $0.8 million in 2018.

Capital Leases

The Company leases equipment under agreements expiring at various times during the next four years. The Company has the capital lease obligation within its consolidated balance sheets. The current portion of $0.4 million is within accounts payable and accrued expenses and the long-term portion of $0.3 million is included in other long term liabilities. The assets acquired under the capital leases were sub-leased to a customer. See Investment in Lease Note 4.

The Company was obligated under non-cancelable capital leases as follows:


Fiscal year ending September 30:	(Amounts in thousands)
2020	$	363
2021		285
2022		51
2023		5
Minimum lease payments including interest	$	704
Amount representing interest		(46)
Minimum lease payments excluding interest	$	658

Common Stock Repurchase

From time to time the Company’s Board of Directors passes resolutions to authorize the Company to purchase shares of its outstanding common stock. The Company did not repurchase any shares during the years ended years ended September 30, 2019 and 2018. As of September 30, 2019, the Company is authorized to repurchase an additional 201 thousand shares pursuant to such resolutions.