Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.3.1.900
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2015
Commitments And Contingencies  
Future minimum lease payments

The following is a schedule showing the future minimum lease payments under capital leases by years and the present value of the minimum payments as of December 31, 2015.

 

2016   $ 88,391  
2017   $ 85,401  
2018   $ 82,513  
2019   $ 79,723  
2020   $ 37,228  
         
Total minimum lease payments   $ 373,256  
Less: Amount representing interest   $ 20,367  
Present value of minimum lease payments     $ 352,889  
Operating lease payments

The Company also leases premises and facilities under operating leases with terms ranging from 12 months to 36 months. The annual non-cancelable operating lease payments on these leases are as follows:

 

2016   $ 166,429  
2017   $ 9,369  
Thereafter   $ nil  
         
Total   $ 175,798