Company: PDEX
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0001079973-25-000164
Chunk: 16

Company: PRO DEX INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Item 2
Chunk 16
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 liabilities on the condensed consolidated
balance sheets.

As of December 31, 2024,
our operating lease has a remaining lease term of two years and nine months and an imputed interest rate of 5.53%. Cash paid for amounts
included in the lease liability for the three and six months ended December 31, 2024 totaled $135,000 and $265,000, respectively, and
for December 31, 2023 totaled $131,000 and $258,000, respectively.

As of December 31, 2024,
the maturity of our lease liability is as follows (in thousands):

     Schedule of maturities of lease liabilities  

    Operating Lease 
  
    Fiscal Year:  

     2025  
     269 
  
     2026  
     551 
  
     2027  
     567 
  
     2028  
     143 
  
     Total lease payments	  
     1,530 
  
     Less imputed interest: 	  
     (115)
  
     Total	  
    $1,415 

NOTE 13. 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 14. SUBSEQUENT EVENTS

We have evaluated subsequent
events through the date of this report. There were no subsequent events that require disclosure.

15 

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. 

COMPANY OVERVIEW

The
following discussion and analysis provides information that management believes is relevant to an assessment and understanding of
the results of operations and financial condition of Pro-Dex, Inc. (“Company,” “Pro-Dex,”
“we,” “our,” or “us”) for the three-month and six-month periods ended December 31, 2024 and 2023.
This discussion should be read in conjunction with the condensed consolidated financial statements and the notes thereto included
elsewhere in this report. This report