Annual report pursuant to Section 13 and 15(d)

Note 15 - Lease Commitments

v3.21.1
Note 15 - Lease Commitments
12 Months Ended
Dec. 31, 2020
Notes  
Note 15 - Lease Commitments

Note 15 – Lease commitments

 

We have entered into non-cancellable operating and finance leases for office and warehouse space, computers, furniture, fixtures, machinery and vehicles, see Note 6. The following summarizes our lease liability maturities for operating and finance leases:

 

Maturity of lease liabilities

 

 

 

 

Year ending December 31,

 

Finance leases

 

Operating leases

2021

$

98,892

$

129,619

2022

 

98,892

 

16,552

2023

 

62,458

 

-

2024

 

39,427

 

-

2025

 

11,016

 

-

Total

 

310,685

 

146,171

 

 

 

 

 

Less: Present value discount

 

(40,183)

 

(6,863)

Total lease liabilities

$

270,502

$

139,308