News: LKE Lake Resources cuts staff, eyes asset sales amid low lithium prices, page-62

Lease liabilities
Current lease liability 1,052,815 348,354
Non-current lease liability 1,998,744 1,324,490
3,051,559 1,672,844
In September 2023, Lake Corporate Inc. a subsidiary of Lake Resources NL entered into a 32- month lease for an
office space in Texas with commencement date 15 September 2023, with no option to renew.
As at 30 June 2023, the office space in Florida was completely impaired on the basis that there had been no
indicators that the property will be used or sub-leased.
As at 1 December 2023, the office space in Florida has been successfully sub-leased for 51- month effective from 1
December 2023 to 29 February 2028 with no option to renew. Cash inflow from sub-lease has been recognised as
rental income in Consolidated statement of profit or loss and other comprehensive income.
Lake continues to have the obligation to make lease payments. The outstanding lease liability on the Florida property
as at 31 December 2023 is $1,239,022 (30 June 2023: $1,406,222).