NOTE 10 – LEASES

The Company is obligated under capital leases for buildings and vehicles that expire at various dates through 2043. Property and equipment and related accumulated amortization recorded under capital leases consists of the following:

September 30,	2017

Gross asset value	$	5,028,147
Less accumulated amortization		(431,261	)

Net book value	$	4,596,886

Amortization expense of approximately $430,000 for assets held under capital lease obligations is included in depreciation and amortization for the nine months ended September 30, 2017.

Future minimum capital lease payments were as follows at September 30, 2017:

September 30, 2018	$	877,652
September 30, 2019		860,709
September 30, 2020		819,604
September 30, 2021		831,125
September 30, 2022		626,155
Thereafter		6,581,830

Total payments		10,597,075
Less interest		(3,813,251	)

		6,783,824
Less current		(536,937	)

	$	6,246,887