Company: PDEX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001079973-25-001655
Chunk: 16

Company: PRO DEX INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 16
---
    PRO-DEX INC. AND SUBSIDIARYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 

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 September 30, 2025, in the amount of $509,000, is presented within accrued expenses
on the condensed consolidated balance sheet.

As
of September 30, 2025, our operating lease has a remaining lease term of two years and an imputed interest rate of 5.53%. Cash paid for
amounts included in the lease liability was $135,000 and $130,000 for the three months ended September 30, 2025 and 2024, respectively,
excluding $15,000 and $41,000, respectively, paid for common area maintenance charges.

As
of September 30, 2025, the maturity of our lease liability is as follows (in thousands):

    Schedule of maturities of lease liabilities  

    Operating Lease 
  
     Fiscal Year:  

     2026  
    $416 
  
     2027  
     567 
  
     2028  
     143 
  
     Total lease payments  
     1,126 
  
     Less imputed interest   
     (63)
  
     Total	  
    $1,063 

NOTE 14. COMMITMENTS AND CONTINGENCIES

Legal
Matters

We
may be involved from time to time in 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 or adverse.

NOTE 15. SUBSEQUENT EVENTS

We
have evaluated subsequent events through the date of this filing. Other than the acquisition of Monogram by Zimmer Biomet on October
7, 2025, discussed in Note 4, there were no additional subsequent events that require recognition or disclosure.

16 

ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The
following discussion and analysis should be read in conjunction with our unaudited interim condensed consolidated financial statements
and the related notes and other financial information appearing elsewhere in this report