Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

19. Finance Leases (Tables)

v3.19.1
19. Finance Leases (Tables)
12 Months Ended
Dec. 31, 2018
Finance Leases  
Schedule of future minimum lease payments

Future minimum lease payments due are as follows:

 

2018   Minimum
lease
payments
    Interest     Present
value
 
                   
Less than one year   $ 1,673,915     $ 782,610     $ 891,305  
Later than one year and not later than five years     6,532,708       2,590,505       3,944,203  
Later than five years     13,974,542       2,427,715       11,546,827  
Total   $ 22,181,165     $ 5,800,830     $ 16,382,335  

 

2017   Minimum
lease
payments
    Interest     Present
value
 
                   
Less than one year   $ 2,180,616     $ 1,049,434     $ 1,131,182  
Later than one year and not later than five years     7,236,202       3,231,225       3,967,793  
Later than five years     16,296,170       3,115,542       13,180,628  
Total   $ 25,712,988     $ 7,396,201     $ 18,279,603  

 

 

2016   Minimum
lease
payments
    Interest     Present
value
 
                   
Less than one year   $ 1,920,618     $ 998,984     $ 921,634  
Later than one year and not later than five years     6,739,259       3,156,663       3,582,596  
Later than five years     16,073,358       3,600,982       12,472,376  
Total   $ 24,733,235     $ 7,756,629     $ 16,976,606  

Schedule of present value of the future minimum lease payments

The present value of the future minimum lease payments are categorized as follows:

 

    2018     2017     2016  
                   
Current liabilities   $ 891,305     $ 1,131,182     $ 921,634  
Non-current liabilities     15,491,030       17,148,421       16,054,972  
Total   $ 16,382,335     $ 18,279,603     $ 16,976,606