Equipment Lease Obligations

9 Months Ended

Sep. 30, 2016

Note 9 – Equipment Lease Obligations

The Company entered into various lease arrangements to lease equipment. The equipment with a cost of $2,853 has been capitalized and included in the Company’s property, plant and equipment. Depreciation expense under capital lease assets was approximately $73 for each of the three months and $219 for each of the nine months ended September 30, 2016 and 2015, respectively.

Future minimum lease payments for equipment lease obligations as of September 30, 2016 are as follows:

Period ending September 30,	Amount
2017	$	768
2018		669
Total minimum lease payments		1,437
Amount representing interest at 4.8% - 6.3%		(81	)
Present value of payments		1,356
Less: current portion		(707	)
Total equipment financing obligations, net of current portion	$	649