Annual report pursuant to Section 13 and 15(d)

NOTE 7 - CAPITAL LEASE OBLIGATIONS

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NOTE 7 - CAPITAL LEASE OBLIGATIONS
12 Months Ended
Dec. 31, 2017
Leases, Capital [Abstract]  
Capital Leases in Financial Statements of Lessee Disclosure [Text Block]
NOTE 7 – CAPITAL LEASE OBLIGATIONS

The Company has entered into lease commitments for equipment that meet the requirements for capitalization. The equipment has been capitalized and is included property and equipment, net in the accompanying balance sheets.  The related obligations are based upon the present value of the future minimum lease payments with interest rates ranging from 7.1% to 9%.

At December 31, 2017, future payments under capital leases are as follows:

2018
 
$
104,094
 
2019
   
45,249
 
2020
   
28,489
 
Total minimum lease payments
   
177,832
 
Less amounts representing interest
   
(14,775
)
Present value of net minimum lease payments
   
163,057
 
Less current portion
   
(94,443
)
Long-term capital lease obligation
 
$
68,614