Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2017
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 June 30, 2017.

 

2017   $ 77,754  
2018   $ 155,507  
2019   $ 155,507  
2020   $ 106,921  
2021   $ 61,440  
Thereafter   $ 637,410  
         
Total minimum lease payments   $ 1,194,539  
Less: Amount representing interest   $ (162,910 )
Present value of minimum lease payments   $ 1,031,629  
         
Made up of:        
Current portion   $ 130,936  
Long term portion   $ 900,693  
Present value of minimum lease payments   $ 1,031,629  

 

Operating lease payments

The Company also leases premises and facilities under operating leases with terms ranging from 12 months to 60 months. The annual non-cancelable operating lease payments on these leases are as follows:

 

2017   $ 179,937  
2018   $ 179,564  
Thereafter   $ 87,963  
         
Total   $ 447,464