Annual report pursuant to Section 13 and 15(d)

CAPITAL LEASE OBLIGATIONS

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CAPITAL LEASE OBLIGATIONS
12 Months Ended
Dec. 31, 2017
Leases [Abstract]  
CAPITAL LEASE OBLIGATIONS

NOTE 9. CAPITAL LEASE OBLIGATIONS

Capital lease obligations consisted of the following at December 31, 2017 and 2016:

 

 

 

2017

 

 

2016

 

Capital lease obligation

 

$

47,002

 

 

$

78,008

 

Less: Current portion

 

 

(32,785

)

 

 

(31,030

)

Total capital lease obligations – long-term

 

$

14,217

 

 

$

46,978

 

The capital lease obligation requires 60 monthly payments of $2,879, including 5.5% interest, beginning April 2014 through June 2019.

The capital leases cover furniture and leasehold improvements located at our corporate headquarters in Las Vegas, Nevada.  As of December 31, 2017, annual requirements for capital leases obligations are as follows:

 

December 31,

 

Total

 

2018

 

$

32,785

 

2019

 

 

14,217

 

Total minimum lease payments

 

$

47,002