Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.5.0.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2016
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 September 30, 2016.

 

2016   $ 23,013  
2017   $ 87,786  
2018   $ 84,817  
2019   $ 81,949  
2020   $ 46,044  
         
Total minimum lease payments   $ 323,609  
Less: Amount representing interest   $ (14,679 )
Present value of minimum lease payments   $ 308,930  
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   $ 159,291  
2017   $ 8,591  
Thereafter   $ nil  
Total   $ 167,882