Company: PDEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001079973-25-000729
Chunk: 18

Company: PRO DEX INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 18
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 basis, since implementation of the share repurchase program in 2013, we have repurchased a total of 1,511,497 shares
under the share repurchase program at an aggregate cost of $24.2 million. All repurchases under the 10b5-1 Plans were administered through
an independent broker.

NOTE 13. LEASES

Our operating lease right-of-use
asset and long-term liability are presented separately on our condensed consolidated balance sheet. The current portion of our operating
lease liability as of March 31, 2025, in the amount of $487,000, is presented within accrued expenses on the condensed consolidated balance
sheet.

As of March 31, 2025, the
maturity of our lease liability is as follows (in thousands):

     Schedule of maturities of lease liabilities  

    Operating Lease 
  
     Fiscal Year:  

     2025  
    $135 
  
     2026  
     551 
  
     2027  
     567 
  
     2028  
     143 
  
     Total lease payments	  
     1,396 
  
     Less imputed interest: 	  
     (96)
  
     Total	  
    $1,300 

    16 
    PRO-DEX INC. AND SUBSIDIARYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 

As of March 31, 2025, the
operating lease for our Irvine, California headquarters has a remaining lease term of two years and six months and an imputed interest
rate of 5.53%. Cash paid for our operating lease for the three and nine months ended March 31, 2025, was $149,000 and $442,000, respectively.
Cash paid for our operating lease for the three and nine months ended March 31, 2024, was $143,000 and $425,000, respectively.

NOTE 14. COMMITMENTS AND CONTINGENCIES

Legal Matters

We may be involved from
time to time in various legal proceedings arising either in the ordinary course of our business or incidental to our business. There can
be no certainty, however, that we may not ultimately incur liability or that such liability will not be material and adverse.

NOTE 15. SUBSEQUENT EVENTS

We have evaluated subsequent
events through the