Quarterly report pursuant to Section 13 or 15(d)

NOTE 7 - CAPITAL LEASE OBLIGATIONS

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NOTE 7 - CAPITAL LEASE OBLIGATIONS
6 Months Ended
Jun. 30, 2018
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 in the accompanying consolidated balance sheets.  The related obligations are based upon the present value of the future minimum lease payments with interest rates ranging from 0.005% to 9.0%.


At June 30, 2018, future payments under capital leases are as follows:


Remainder of 2018

  $ 83,011  

2019

    97,259  

2020

    70,147  

2021

    21,731  

2022

    19,920  

2023

    6,640  

Total minimum lease payments

    298,708  

Less amounts representing interest

    (29,956

)

Present value of net minimum lease payments

    268,752  

Less current portion

    (117,185

)

Long-term capital lease obligation

  $ 151,567