XML 25 R15.htm IDEA: XBRL DOCUMENT v3.22.1
Leases (Notes)
 9 Months Ended
Mar. 31, 2022
Lessee Disclosure [Abstract]  
Lease Leases
    The Company leases certain facilities and equipment under operating leases. Total lease expense, under ASC 842, was included in cost of goods sold and marketing, general and administrative costs in our unaudited condensed consolidated statements of operations for the three and nine months ended March 31, 2022 and 2021 as follows:

Three Months Ended March 31,Nine Months Ended March 31,
2022202120222021
Operating lease costs:
Fixed$84,245 $84,245 $252,735 $262,351 
Total:$84,245 $84,245 $252,735 $262,351 

    Supplemental cash flow information was as follows:
Three Months Ended March 31,Nine Months Ended March 31,
2022202120222021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$84,187 $82,390 $250,365 $253,197 
Total$84,187 $82,390 $250,365 $253,197 


    The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate)
under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on the unaudited condensed consolidated balance sheets as of March 31, 2022:
Operating
2022 (remainder of FY 2022)$71,157 
2023263,162 
2024268,372 
2025141,865 
20262,728 
Total lease payments747,284 
Less interest 54,905 
Present value of lease liabilities$692,379 

    Average lease terms and discount rates were as follows:
March 31, June 30,
20222021
Weighted-average remaining lease terms (years)
Operating leases
2.763.35
Weighted-average discount rate
Operating leases
5.65 %5.65 %
On April 28, 2022 the Company extended lease agreement for its Wisconsin warehouse, which will end in April 30, 2022 for a term of three years. The lease agreement has a lease ROU assets and lease liability of approximately $224,000, respectively. The Company classified the amended lease as an operating lease under ASC 842.