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9. CAPITAL LEASE OBLIGATIONS

9 Months Ended

Sep. 30, 2017

Leases [Abstract]

9. CAPITAL LEASE OBLIGATIONS

The components of capital lease obligations are as follows:

	Imputed		September 30,				December 31,
	Interest rate		2017				2016
Total capital lease obligations	6.7%		$	2,428,342			$	2,472,637
Less: Current portion				(160,027	)			(187,678	)
Capital lease obligations, net of current portion			$	2,268,315			$	2,284,959

Interest expenses from capital lease obligations amounted to $40,667 and $41,740 for the three-month period ended September 30, 2017 and 2016, respectively, which were charged to the condensed consolidated statement of income. Interest expenses from capital lease obligations amounted to $123,795 and $133,504 for the nine-month period ended September 30, 2017 and 2016, respectively, which were charged to the condensed consolidated statement of income.

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- Definition

The entire disclosure for capital 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-URI http://asc.fasb.org/subtopic&trid=2209026

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- References

No definition available.

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