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9. CAPITAL LEASE OBLIGATIONS

9 Months Ended

Sep. 30, 2018

Leases [Abstract]

9. CAPITAL LEASE OBLIGATIONS

The components of capital lease obligations are as follows:

	Imputed		September 30,				December 31,
	Interest rate		2018				2017
Total capital lease obligations	6.7%		$	2,225,208			$	2,507,201
Less: Current portion				(160,350	)			(203,206	)
Capital lease obligations, net of current portion			$	2,064,858			$	2,303,995

Interest expenses from capital lease obligations amounted to $37,138 and $40,667 for the three-month period ended September 30, 2018 and 2017, respectively, which were charged to the condensed consolidated statement of income. Interest expenses from capital lease obligations amounted to $123,352 and $123,795 for the nine-month period ended September 30, 2018 and 2017, 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://fasb.org/us-gaap/role/ref/legacyRef
-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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