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Commitments and Contingencies
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12 Months Ended | |||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Text Block] |
Note 6 - Commitments and Contingencies
Leases
Pursuant to a lease amendment effective January 4, 2010, Optex Systems Holdings leases its office and manufacturing facilities under a non-cancellable operating lease expiring July 31, 2015. There are several non-cancellable operating leases for office and manufacturing equipment. Total expenses under facility lease agreements for the fiscal year ended September 30, 2012 was $285 thousand. Total expenses for manufacturing and office equipment for the year ended September 30, 2012 was $13 thousand. Total expenses under facility lease agreements for the fiscal year ended October 2, 2011 was $292 thousand and total expenses for manufacturing and office equipment was $33 thousand.
At September 30, 2012, the remaining minimum lease payments under the non-cancelable operating leases for equipment, office and facility space were as follows:
Pursuant to the terms of the amendment to the facilities lease, there was no base rent payment due from January 1, 2010 through July 31, 2010, and the total value of this rent abatement is $134 thousand. The value of the deferred rent expense will be amortized monthly at a rate of $2 thousand per month over the life of the lease. The total unamortized deferred rent as of September 30, 2012 was $68 thousand. Commencing on August 1, 2010, the base rent payment is $19 thousand per month and will increase to $20 thousand per month on August 1, 2013 through the end of the lease on July 30, 2015. |
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