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CAPITAL LEASE OBLIGATION
3 Months Ended
Mar. 31, 2021
Capital Lease Obligations [Abstract]  
CAPITAL LEASE OBLIGATION

NOTE 6 – CAPITAL LEASE OBLIGATION

 

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

 

    March 31,   December 31,
    2021   2020
Machinery and Equipment   $ 61,083     $ 61,083  
      61,083       61,083  
Less: Accumulated Depreciation     (30,375 )     (28,023 )
    $ 30,708     $ 33,060  

  

Future minimum principal and interest payments under the capital lease agreements as of March 31, 2021, are as follows:

 

2021   $ 6,648  
2022     7,280  
2023     253  
Less: Amount representing interest     (887 )
Present value of future minimum lease payments     13,294  
Less: current portion     (6,648 )
    $ 6,646