Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.7.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2016.

 

2017   $ 143,157  
2018   $ 143,156  
2019   $ 143,157  
2020   $ 98,429  
2021   $ 56,560  
Greater than 5 years   $ 586,786  
Total minimum lease payments   $ 1,171,245  
Less: Amount representing interest   $ 162,419  
         
Present value of minimum lease payments   $ 1,008,826  
Operating lease payments

The Company also leases premises, facilities and motor vehicles 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:

 

2017   $ 189,610  
2018   $ 161,049  
Thereafter   $ 61,088  
         
Total   $ 411,747