OBLIGATIONS UNDER CAPITAL LEASE

12 Months Ended

Dec. 31, 2019

Note 5 - OBLIGATIONS UNDER CAPITAL LEASE

The Company leases approximately 1,400 square feet of office space at 2999 North 44th Street, Phoenix, Arizona 85018 at a monthly rent of $3,270 through January 31, 2023 at a monthly base rent of $3,618, increasing to $3,688 and $3,758 per month during the second and third year of the lease, respectively.

On July 2, 2019, the Company executed a lease agreement for an industrial building space in California for 24 months at base rent of $2,400 per month through June 30, 2021.

The above leases are classified as capital leases under ASC 842 which the Company adopted in 2019. The following is a summary of property held under these capital leases at December 31, 2019 and 2018:

	December 31,			December 31,
	2019			2018

Office and warehouse facilities	$	224,037		$	-
Accumulated amortization		(87,106	)		-

Total	$	136,931		$	-

Future maturities of obligations under capital leases are as follows:

Years Ending December 31,
2020	$	71,872
2021		58,585
2022		45,020
2023		3,758

Total minimum lease payments		179,235
Amounts representing interest		(21,616	)
	$	157,619