v3.25.2
RIGHT-OF-USE ASSETS & LEASE LIABILITIES
 9 Months Ended
Jun. 30, 2025
Right-of-use Assets Lease Liabilities  
RIGHT-OF-USE ASSETS & LEASE LIABILITIES

7. RIGHT-OF-USE ASSETS & LEASE LIABILITIES

  

June 30,
2025

  

September 30,
2024

 
Right-of-use assets                
Beginning of period   $ 1,830,124     $ -  
Additions     1,122,881       1,926,656  
Amortization     (310,760 )     (96,532 )
End of period   $ 2,642,245     $ 1,830,124  

 

As of June 30, 2025, the Company had two long-term operating leases corresponding to (1) its corporate headquarters located at 10 Times Square, 30th Floor, New York, New York and (2) space being used as a technology demonstration facility in Westchester County, New York. Lease components in the Company’s long-term operating leases are accounted for following the guidance in Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”) for the capitalization of long-term leases. At June 30, 2025, the lease liability was equal to the present value of the remaining lease payments, discounted using a borrowing rate based on similar debt. Lease activity for the periods ended June 30, 2025 and September 30, 2024, was as follows:

 

Balance sheet information related to the Company’s leases is presented below:

 

Operating leases: 

June 30,

2025

  

September 30,

2024

 
Operating right-of-use assets  $2,642,245   $1,830,124 
Operating lease liabilities, current   493,169    281,352 
Operating lease liabilities, long term   2,314,645    1,650,383 

 

 

NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

As of June 30, 2025

(Unaudited)

 

7. RIGHT OF USE ASSETS & LEASE LIABILITIES (Continued)

 

The following provides details of the Company’s lease expense:

 

Lease cost:  2025   2024   2025   2024 
   Three Months Ended
June 30,		   Nine Months Ended
June 30,		 
Lease cost:  2025   2024   2025   2024 
Operating lease cost  $157,559   $103,263   $436,480   $131,632 

 

Other information related to leases is presented below:

    

Cash paid for amounts included in the measurement of lease liabilities:  2025   2024   2025   2024 
   Three Months Ended
June 30,		   Nine Months Ended
June 30,		 
Cash paid for amounts included in the measurement of lease liabilities:  2025   2024   2025   2024 
Operating cash outflows from operating leases  $142,172   $33,605   $403,749   $33,605 

 

 

   June 30, 2025 
Weighted-average discount rate – operating lease   11.6%
Weighted-average remaining lease term – operating lease (in years)   5.88 

 

As of June 30, 2025, the expected annual minimum lease payments of the Company’s operating lease liabilities were as follows:

 

For the Years Ended September 30,    
2025  $119,890 
2026   626,333 
2027   641,992 
2028   658,041 
2029   674,493 
Thereafter   1,142,668 
Total future minimum lease payments, undiscounted   3,863,417 
Less: Imputed interest for leases in excess of one year   (1,055,603)
Present value of future minimum lease payments   2,807,814 
Less: Current portion of lease liabilities   (493,169)
Total lease liabilities less current portion  $2,314,645 

 

 

NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

As of June 30, 2025

(Unaudited)