LEASES |
9 Months Ended |
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Jun. 30, 2025 | |
Leases | |
LEASES | NOTE 6 - LEASES
On December 10, 2021, we entered a lease for approximately 500 square feet of office space at 146 Main Street in Worcester, Massachusetts, with the option to renew annually. The annual renewal date is January 1st. Our current lease payment is $986 per month. The lease allows for a 2% increase effective at the beginning of each renewal period.
Operating lease expenses were $9 thousand for both the nine months ended June 30, 2025, and 2024, respectively.
We expect to pay approximately $6 thousand through December 2025, the remaining term of the Worcester lease. We intend to renew the lease for another twelve-month period beginning January 1, 2026, and ending December 31, 2026, at an annual cost of $12 thousand.
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