Quarterly report pursuant to Section 13 or 15(d)

Note 16 - Lease Commitments

v3.20.1
Note 16 - Lease Commitments
3 Months Ended
Mar. 31, 2020
Notes  
Note 16 - Lease Commitments

Note 16 – 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

 

 

 

 

12 months ending March 31,

 

Finance leases

 

Operating leases

2021

$

57,895

$

171,306

2022

 

62,893

 

96,028

2023

 

66,125

 

5,961

2024

 

25,030

 

-

2025

 

11,968

 

-

Total

 

223,911

 

273,295

Less: Current maturities

 

57,895

 

171,306

Long-term liability

$

166,016

$

101,989