Quarterly report pursuant to Section 13 or 15(d)

Capital Lease Obligations

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Capital Lease Obligations
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Capital Lease Obligations

Note 7 – Capital Lease Obligations

 

The Company leases various assets under capital leases expiring through 2020 as follows. At June 30, 2017 (unaudited) and December 31, 2016, capital lease obligations consisted of the following:

 

    June 30, 2017     December 31, 2016  
             
Medical equipment   $ 4,497,025     $ 4,497,025  
Less accumulated depreciation     (3,069,139 )     (2,809,511 )
                 
Net   $ 1,427,886     $ 1,687,514  

 

Aggregate future minimum rentals under capital leases are as follows:

 

Year ended December 31,      
2017 (July through December)   $ 712,011  
2018     1,427,375  
2019     377,919  
2020     32,611  
Total     2,549,916  
         
Less interest     120,908  
Present value of minimum lease payments     2,429,008  
         
Less current portion of capital lease obligations     1,365,547  
Capital lease obligations, net of current portion   $ 1,063,461