Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.19.2
Commitments and Contingencies
9 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 4 - Commitments and Contingencies

 

Rental Payments under Non-cancellable Operating Leases

 

As of June 30, 2019, the remaining minimum lease and estimated adjusted common area maintenance (CAM) payments under the non-cancelable office and facility space leases are as follows:

 

Non-cancellable Operating Leases Minimum Payments

 

    (Thousands)  
    Optex Systems
Richardson
    Applied Optics Center
Dallas
       
Fiscal Year   Lease Payments     CAM Estimate     Lease Payments     CAM Estimate     Total Payments  
2019   $ 71     $ 28     $ 62     $ 15     $ 176  
2020     291       112       255       62       720  
2021     148       57       262       63       530  
2022     -       -       22       5       27  
Total minimum lease payments   $ 510     $ 197     $ 601     $ 145     $ 1,453  

 

Total facilities rental and CAM expense for both facility lease agreements as of the three and nine months ended June 30, 2019 was $175 and $523 thousand, respectively. Total expense under facility lease agreements as of the three and nine months ended July 1, 2018 was $175 and $516 thousand, respectively.

 

As of June 30, 2019, the unamortized deferred rent was $91 thousand as compared to $111 thousand as of September 30, 2018. Deferred rent expense is amortized monthly over the life of the lease.