Capital Lease Obligations (Details Narrative) - Systems Trading, Inc. [Member] - Computer Hardware And Software [Member] - USD ($) |
Nov. 01, 2015 |
Jul. 10, 2015 |
May. 01, 2014 |
|---|---|---|---|
| Capital lease obligation | $ 7,998 | $ 14,443 | |
| Interest rates on capitalized leases | 7.22% | ||
| Capital leases contingent monthly rental payments | $ 258 | $ 420 | $ 21,826 |
| Description on capital lease obligation |
On July 10, 2015 the Company entered into a lease with Systems Trading, Inc. The lease is for $14,443, calls for monthly payments of $420 and expires on August 1, 2018. It carries an interest rate of 3%. |
The company entered into a new lease agreement with Systems Trading, Inc. on May 1, 2014 to refinance all outstanding leases into one capital lease. This lease obligation is payable to Systems Trading, Inc. with monthly installments of $21,826 from June 1, 2014 through May 1, 2018. This lease is secured with the computer equipment and has been capitalized. |
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- Definition It represents as a capital leases contingent monthly rental payments due. No definition available.
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- Definition Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The percentage points added to the reference rate to compute the variable rate on the lessee's capital lease. No definition available.
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- Definition A general description of the lessee's leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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