Veru Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Basis of Presentation (Policy)
Notes Tables
Notes Details

Leases (Tables)

v3.19.3.a.u2

Leases (Tables)

3 Months Ended

Dec. 31, 2019

Leases [Abstract]

Components of Lease Cost


	Three Months Ended
	December 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	2,178
Interest on lease liabilities		1,480
Operating lease cost		132,574
Short-term lease cost		1,863
Variable lease cost		33,465
Sublease income		(44,844)
Total lease cost	$	126,716

Summary of Lease Information


	December 31, 2019
Operating Leases
Weighted-average remaining lease term	4.5
Weighted-average discount rate	12.04%
Finance Leases
Weighted-average remaining lease term	2.2
Weighted average discount rate	13.86%

Schedule of Maturities of Lease Liabilities


Fiscal year ended September 30,	Operating Leases		Finance Leases		Sublease Income
2020	$	348,717	$	16,192	$	145,417
2021		438,725		22,199		198,668
2022		357,718		9,496		203,584
2023		302,921		—		190,749
2024		199,093		—		—
Thereafter		171,466		—		—
Total lease payments		1,818,640		47,887	$	738,418
Less imputed interest		(418,181)		(6,876)
Total lease liabilities	$	1,400,459	$	41,011

Schedule of Future Minimum Payments Under Leases


	Operating		Sublease
	Leases		Income		Net Total

2020	$	469,002	$	193,753	$	275,249
2021		433,751		198,668		235,083
2022		337,456		203,584		133,872
2023		114,493		190,749		(76,256)
2024		11,238		—		11,238
Total minimum lease payments	$	1,365,940	$	786,754	$	579,186

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

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- References

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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717

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- Definition

Lease Terms [Table Text Block]

+ References

No definition available.

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- Definition

Operating And Finance Lease Liability Maturity [Table Text Block]

+ References

No definition available.

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