Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

3 Months Ended

Dec. 29, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Non-cancellable Operating Leases Minimum Payments

As of December 29, 2019, the remaining minimum lease and estimated CAM payments under the non-cancelable office and facility space leases are as follows:

Non-cancellable Operating Leases

	(Thousands)
	Optex Richardson			Applied Optics Center			Office			Consolidated
Fiscal Year	Facility Lease Payments			Facility Lease Payments			Equipment Lease Payments			Total Lease Payments			Total Variable CAM Estimate
2020 Base year lease		219			191			14			424			151
2021 Base year lease		148			262			18			428			144
2022 Base year lease		-			22			4			26			7
Total base lease payments	$	367		$	475		$	36		$	878		$	302
2022-2026 Lease option-assumed exercise⁽²⁾		-			1,312			-			1,312
Total lease payments	$	367		$	1,787		$	36		$	2,190

Imputed interest on lease payments ⁽¹⁾		(16	)		(383	)		(2	)		(401	)
Total Operating Lease Liability⁽³⁾	$	351		$	1,404		$	34		$	1,789

Right-of-use Asset	$	305		$	1,376		$	34		$	1,715

(1) Assumes a discount borrowing rate of 7.5%.

(2) Assumes only one of the two five year options are exercised. The Company believes it is reasonably certain to exercise the first of the two 5 year options but believes the additional 5 year option falls outside of the range of reasonable predicability.

(3) Short-term and Long-term portion of Operating Lease Liability is $549 thousand and $1,240 thousand, respectively.