Lease Agreements

12 Months Ended

Sep. 30, 2019

Lease Agreements

Lease Agreements

Note 12 – Lease Agreements

Capital Leases

The Company has entered into long-term capital lease agreements for purchases of various computer and telephone equipment at a weighted average interest rate of 7.7%. At September 30, 2019 and 2018, the remaining principal payments due under all capital leases were $52,000 and $92,000, respectively. Aggregate minimum annual principal and interest obligations at September 30, 2019, under non-cancelable leases are as follows:

	2020		2021		2022		2023		2024		Total
Capital Lease Obligations	$	35,000	$	21,000	$	—	$	—	$	—	$	56,000

Property Leases

The Company has non-cancelable operating lease agreements, primarily for property, that expire through 2025. One of the Company’s facilities is leased from a company controlled by the estate of the former owner of RMD. This building is leased as a month-to-month tenancy and will continue until terminated by either the Company, with not less than six months’ prior written notice, or the facility’s owner, with not less than three years’ prior written notice (see Note 13). Rent expense for the years ended September 30, 2019 and 2018 amounted to $1.6 million. Future non-cancelable minimum lease payments under property leases as of September 30, 2019 are as follows:

Years ending September 30,
2020	$	986,000
2021		335,000
2022		204,000
2023		100,000
2024		102,000
thereafter		44,000
Total	$	1,771,000