CAPITAL LEASE OBLIGATION

9 Months Ended

Sep. 30, 2020

NOTE 5 – CAPITAL LEASE OBLIGATION

The Company’s machinery under a capital lease, which is included in machinery and equipment is summarized as follows:


Machinery and Equipment	$	61,083
Less: Accumulated Depreciation		(25,685)
	$	35,398

Future minimum principal and interest payments under the capital lease agreements as of September 30, 2020, are as follows:


2020	$	2,949
2021		7,280
2022		7,280
2023		1,489
Less: Amount representing interest		(1,737)
Present value of future minimum lease payments		17,261
Less: current portion		(6,380)
	$	10,881