Quarterly report pursuant to Section 13 or 15(d)

CAPITAL LEASE OBLIGATIONS

v3.5.0.2
CAPITAL LEASE OBLIGATIONS
9 Months Ended
Sep. 30, 2016
Leases [Abstract]  
CAPITAL LEASE OBLIGATIONS

NOTE 8. CAPITAL LEASE OBLIGATIONS

Capital lease obligations consisted of the following at:

 

 

 

September 30,

2016

 

 

December 31,

2015

 

Capital lease obligation – leasehold improvements

 

$

85,506

 

 

$

107,365

 

Capital lease obligation – office furniture

 

 

 

 

 

29,839

 

 

 

 

85,506

 

 

 

137,204

 

Less: Current portion

 

 

(30,608

)

 

 

(59,196

)

 

 

$

54,898

 

 

$

78,008

 

 

Future annual payments for capital leases obligations are as follows for the years ending September 30:

 

 

 

Total

 

2017

 

$

34,545

 

2018

 

 

34,545

 

2019

 

 

23,030

 

2020

 

 

 

Total minimum lease payments

 

$

92,120

 

Less: amount representing interest

 

 

(6,614

)

 

 

$

85,506