LEASES

12 Months Ended

Sep. 30, 2021

Leases [Abstract]

LEASES

NOTE 13      LEASES

The Company’s operating leases are primarily for corporate, sales and administrative office space. Total operating lease expense in Fiscal 2021 was $611,000, of which $55,000 was recorded in sales and marketing expenses and $556,000 was recorded in general and administrative expenses on the consolidated statements of operations. Total operating lease expense in Fiscal 2020 was $562,000, of which $7,000 was recorded in sales and marketing expenses and $555,000 was recorded in general and administrative expenses on the consolidated statements of operations.  Cash paid for amounts included in operating lease liabilities in Fiscal 2021 and Fiscal 2020, which have been included in cash flows from operating activities, was $489,000 and $495,000, respectively.

The Company leases certain computer equipment through finance lease agreements expiring through July 2022. The net book value of assets under finance leases was $14,000 and $23,000 at September 30, 2021 and 2020, respectively. The remaining finance lease liability at September 30, 2021 was $2,000 and due to immateriality, no additional disclosures are made for finance leases.

At September 30, 2021, the Company’s operating leases had a weighted average remaining lease term of 9.3 years and a weighted average discount rate of 5.7%.

Future minimum payments under non-cancellable operating leases are as follows: 

Fiscal 2022	$	554,000
Fiscal 2023		554,000
Fiscal 2024		565,000
Fiscal 2025		531,000
Fiscal 2026		510,000
Thereafter		2,398,000
Total future minimum lease payments		5,112,000
Less imputed interest		(1,213,000	)
Total	$	3,899,000