Quarterly report pursuant to Section 13 or 15(d)

6. Capital Lease Obligations

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6. Capital Lease Obligations
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Capital Lease Obligations

The Company leases various assets under capital leases expiring through 2020 as follows:

 

    March 31,     December 31,  
    2016     2015  
Medical equipment   $ 5,663,333     $ 5,663,332  
Less accumulated depreciation     (2,443,384 )     (2,093,920 )
                 
Net   $ 3,219,949     $ 3,569,412  

 

Depreciation expense on assets under capital leases was $349,464 and $215,045 for the three months ended March 31, 2016 and 2015, respectively.

 

Aggregate future minimum rentals under capital leases are as follows:

 

December 31,          
2016     $ 1,217,765  
2017       1,432,542  
2018       845,330  
2019       217,412  
2020       32,611  
             
Total       3,745,660  
             
Less interest       350,962  
             
Present value of minimum lease payments       3,394,698  
             
Less current portion of capital lease obligations       1,323,708  
             
Capital lease obligations, net of current portion     $ 2,070,990