COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jun. 30, 2017

COMMITMENTS AND CONTINGENCIES [Abstract]

NOTE 8 - COMMITMENTS AND CONTINGENCIES

Operating Leases: The Company operates in a number of locations across the U.S. including space for corporate offices in Houston, Texas. Sharps has manufacturing, assembly, storage, distribution and warehousing operations as well as two (2) fully-permitted facilities that house our processing and treatment operations. The Company owns one processing and treatment facility and leases all other spaces. The leases expire between 2020 to 2023 with options to renew ranging from 3 years to 10 years.

Rent expense for the fiscal years ended June 30, 2017, 2016 and 2015 was $2.3 million, $1.5 million and $1.3 million, respectively. Future minimum lease payments under non-cancelable operating leases as of June 30, 2017 are as follows (in thousands):

	Year Ended June 30,
	2018		2019		2020		2021		2022		Thereafter
Operating lease obligations	$	1,812	$	1,827	$	1,725	$	943	$	274	$	5

Performance Bonds: The Company also utilizes performance bonds to support operations based on certain state requirements. At June 30, 2017, the Company had performance bonds outstanding covering financial assurance up to $0.6 million.

Other: From time to time, the Company is involved in legal proceedings and litigation in the ordinary course of business. In the opinion of management, the outcome of such matters will not have a material adverse effect on the Company’s consolidated financial position or consolidated results of operations.