LEASES

9 Months Ended

Mar. 31, 2025

Leases

LEASES

NOTE 13. 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, 2025, in the amount of $487,000, is presented within accrued expenses on the condensed consolidated balance sheet.

As of March 31, 2025, the maturity of our lease liability is as follows (in thousands):

	Operating Lease
Fiscal Year:
2025	$	135
2026		551
2027		567
2028		143
Total lease payments		1,396
Less imputed interest:		(96	)
Total	$	1,300

As of March 31, 2025, the operating lease for our Irvine, California headquarters has a remaining lease term of two years and six months and an imputed interest rate of 5.53%. Cash paid for our operating lease for the three and nine months ended March 31, 2025, was $149,000 and $442,000, respectively. Cash paid for our operating lease for the three and nine months ended March 31, 2024, was $143,000 and $425,000, respectively.