Annual report pursuant to Section 13 and 15(d)

CAPITAL LEASE OBLIGATIONS, NET (Tables)

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CAPITAL LEASE OBLIGATIONS, NET (Tables)
12 Months Ended
Dec. 31, 2016
Leases [Abstract]  
Schedule of Capital Lease Obligations, Net

Capital lease obligations, net consisted of the following at December 31, 2016 and 2015:

 

 

 

2016

 

 

2015

 

Capital lease obligation – leasehold improvements

 

$

78,008

 

 

$

107,365

 

Capital lease obligation – office furniture

 

 

 

 

 

29,839

 

Total capital lease obligations

 

 

78,008

 

 

 

137,204

 

Less: Current portion

 

 

(31,030

)

 

 

(59,196

)

     Capital lease obligations, net

 

$

46,978

 

 

$

78,008

 

 

Schedule of Annual Requirements for Capital Leases Obligations

As of December 31, 2016, annual requirements for capital leases obligations are as follows:

 

 

 

Total

 

2017

 

$

31,030

 

2018

 

 

32,780

 

2019

 

 

14,198

 

Total minimum lease payments

 

$

78,008