Note 12 – Leases

The Company’s corporate offices are within leased facilities. The Company doesn’t have any other office or equipment leases subject to the recently adopted ASU 2016-02. This real property lease contains a one-time renewal option for an additional 36 months. In the locations in which it is economically feasible to continue to operate, management expects that lease options will be exercised. The office lease contains provisions requiring payment of property taxes, utilities, insurance, maintenance and other occupancy costs applicable to the leased premise. As the Company’s lease does not provide an implicit discount rate, the Company uses an incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

The components of lease expense were as follows:

Supplemental balance sheet information related to leases were as follows:

Supplemental cash flow and other information related to leases was as follows:

The Company’s maturities of lease liabilities under finance leases as of June 30, 2019 are as follows:

There were no operating leases as of June 30, 2019.