Quarterly report pursuant to Section 13 or 15(d)

CAPITAL LEASE OBLIGATIONS (Tables)

v3.5.0.2
CAPITAL LEASE OBLIGATIONS (Tables)
6 Months Ended
Jun. 30, 2016
Leases [Abstract]  
Schedule of Capital Lease Obligations

Capital lease obligations consisted of the following at:

 

 

 

June 30,

2016

 

 

December 31,

2015

 

Capital lease obligation – leasehold improvements

 

$

92,889

 

 

$

107,365

 

Capital lease obligation – office furniture

 

 

9,082

 

 

 

29,839

 

 

 

 

101,971

 

 

 

137,204

 

Less: Current portion

 

 

(39,270

)

 

 

(59,196

)

Capital lease obligations

 

$

62,701

 

 

$

78,008

 

 

Schedule of Future Minimum Lease Payments

The capital leases cover furniture and leasehold improvements located at our corporate headquarters in Las Vegas, Nevada. Annual requirements for capital leases obligations are as follows:

 

June 30,

 

Total

 

2017

 

$

43,769

 

2018

 

 

34,545

 

2019

 

 

31,666

 

2020

 

 

 

Total minimum lease payments

 

$

109,980

 

Less: amount representing interest

 

 

(8,009

)

Present value of net minimum lease payments

 

$

101,971