Lease Commitments

9 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease Commitments

We lease various facilities under non-cancelable operating leases, expiring through 2022. Our leased facilities are located in Orlando, Florida; Irvington, New York; Riga, Latvia; Shanghai, China; and Zhenjiang, China. Rent expense totaled approximately $817,000 and $779,000 during the nine months ended March 31, 2019 and 2018, respectively.

We currently have obligations under five capital lease agreements, entered into during fiscal years 2016, 2017, 2018, and 2019, with terms ranging from three to five years. The leases are for computer and manufacturing equipment, which are included as part of property and equipment. Assets under capital lease include approximately $1.9 million in manufacturing equipment, with accumulated amortization of approximately $822,000 as of March 31, 2019. Amortization related to capital lease assets is included in depreciation and amortization expense.

The approximate future minimum lease payments under capital and operating leases at March 31, 2019 were as follows:

	Capital Leases			Operating Leases
Fiscal year ending:
June 30, 2019 (three months remaining)	$	119,903		$	252,000
June 30, 2020		456,731			921,000
June 30, 2021		382,086			678,000
June 30, 2022		205,916			557,000
June 30, 2023		33,294			101,000
Total minimum payments		1,197,930		$	2,509,000
Less imputed interest		(122,605	)
Present value of minimum lease payments included in capital lease obligations		1,075,325
Less current portion		(401,666	)
Non-current portion	$	673,659