Annual report pursuant to Section 13 and 15(d)

Commitments

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Commitments
12 Months Ended
Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments
12. Commitments In addition to the warehouse and office space leased from 290 NE 68 Street, LLC (as described in Note 10 above), the Company leases an additional warehouse facility from an unrelated third party under an operating lease which is scheduled to expire in December 2017, subject to a three-year renewal option held by the Company.  Minimum future rental commitments for both leases approximate the following:  

 

Years ending June 30,    
     
2017   $ 194,000  
2018     74,000  
   Total   $ 268,000  

 

 

Rent expense under both leases totaled approximately $190,000 and $186,000 for the fiscal years ended June 30, 2016 and 2015, respectively.

The Company, through its manufacturers, provides parts warranties for products sold. These warranties are mainly the responsibility of the manufacturer. As such, warranty-related expenses are insignificant to the Company’s consolidated financial statements.