Note B - Commitments and Facilities
|12 Months Ended|
Sep. 30, 2019
|Notes to Financial Statements|
|Leases of Lessee Disclosure [Text Block]||
NOTE B – COMMITMENTS AND FACILITIES
Operating Leases:The Company leases office and manufacturing facilities in Minnesota and Mexico for its ongoing operations, which expire at various dates through
February 2025.The Company also leases various pieces of office equipment. Certain of these leases have escalating rent payment provisions. We recognize rent expense under such leases on a straight-line basis over the term of the lease. For the years ended
September 30, 2019,
2017,total rent expense was
$768,000respectively. Rent expense includes operating expenses, insurance, and related taxes.
September 30, 2019,the future minimum lease payments required under operating lease agreements are as follows:
The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.
Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef