Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

12 Months Ended

Oct. 03, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Non-cancellable Operating Leases Minimum Payments

As of October 3, 2021, the remaining minimum base lease and estimated common area maintenance (CAM) payments under the non-cancellable office equipment and facility space leases are as follows:

Non-cancellable Operating Leases Minimum Payments

Fiscal Year		Facility Lease Payments			Facility Lease Payments			Lease Payments		Total Lease Payments			Total Variable CAM Estimate
		(Thousands)
		Optex Richardson			Applied Optics Center			Office Equipment		Consolidated
Fiscal Year		Facility Lease Payments			Facility Lease Payments			Lease Payments		Total Lease Payments			Total Variable CAM Estimate
2022 Base year lease			308			234			4		546			235
2023 Base year lease			317			288					605			240
2024 Base year lease			327			296					623			245
2025 Base year lease			336			305					641			249
2026 Base year lease			346			313					659			254
2027 Base year lease			357			322					679			259
2028 Base year lease			241			330					571			186
2029 Base year lease			-			83					83			27
Total base lease payments			2,232		$	2,171		$	4		4,407		$	1,695
Imputed interest on lease payments ⁽¹⁾	(1)		(339	)		(407	)		-		(746	)
Total Operating Lease Liability⁽²⁾	(2)	$	1,893		$	1,764		$	4	$	3,661

Right-of-use Asset⁽³⁾	(3)	$	1,831		$	1,764		$	4	$	3,599

(1)

Assumes a discount borrowing rate of 5.0% on the new lease amendments effective as of January 11, 2021 and 7.5% on the remaining lease term for the Applied Optics Dallas facility through October 31, 2021.

(2)

Includes $62 thousand of unamortized deferred rent.

(3)

Short-term and Long-term portion of Operating Lease Liability is $528 thousand and $3,133 thousand, respectively.