COMMITMENTS AND CONTINGENCIES |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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| COMMITMENTS AND CONTINGENCIES | NOTE 4 — COMMITMENTS AND CONTINGENCIES Litigation From time to time, we are involved in various legal proceedings. These matters are subject to inherent uncertainties, and it is possible that some of these matters could ultimately be decided, resolved or settled adversely to us. Further, even if these matters are resolved favorably, they may require the expenditure of significant fees and costs. On the basis of our current knowledge and understanding, we do not believe that judgments, settlements or orders, if any, arising from these matters (either individually or in the aggregate) will have a material adverse effect on our financial position or results of operations. Contingent Consideration The Company recorded contingent consideration liabilities in connection with certain asset acquisition transactions in fiscal year 2025. The fair value of the contingent consideration liabilities was determined by management based on estimated recurring revenue from acquired customer relationships. As of June 30, 2026, the total contingent consideration liability was $416,000. Operating Leases The Company has operating leases for office space in Tucson, Arizona, and Miami Beach, Florida. The following summarizes the total lease liabilities and remaining future minimum lease payments as of June 30, 2026 (in thousands):
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