LEASES

9 Months Ended

Mar. 31, 2024

Leases

LEASES

NOTE 12. LEASES

Our operating lease right-of-use asset and long-term liability are presented separately on our condensed consolidated balance sheet. The current portion of our operating lease liability as of March 31, 2024, in the amount of $445,000, is presented within accrued expenses on the condensed consolidated balance sheet.

As of March 31, 2024, the maturity of our lease liability is as follows (in thousands):

	Operating Lease
Fiscal Year:
2024	$	130
2025		535
2026		551
2027		567
2028		143
Total lease payments		1,926
Less imputed interest:		(181	)
Total	$	1,745

As of March 31, 2024, the operating lease for our Irvine, California headquarters has a remaining lease term of three years and six months and an imputed interest rate of 5.53%. Cash paid for amounts included in the lease liability for the three and nine months ended March 31, 2024, was $143,000 and $425,000, respectively. Cash paid for amounts included in the lease liability for the three and nine months ended March 31, 2023, was $139,000 and $418,000, respectively.