2.4.0.800000012 - Disclosure - Investment in Equipment Subject to Operating Leasestruefalsefalse1false falsefalseFrom2013-01-01to2013-06-30http://www.sec.gov/CIK0001489367duration2013-01-01T00:00:002013-06-30T00:00:001true 1sqnf_InvestmentInEquipmentSubjectToOperatingLeasesAbstractsqnf_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Investment In Equipment Subject To Operating Leases2false 2us-gaap_OperatingLeasesOfLessorDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div><table cellpadding="0" cellspacing="0" id="list" style="width: 100%; font: 10pt times new roman; font-size: 10pt; font-family: times new roman"><tr style="vertical-align: top"><td style="text-align: left; width: 18pt"><div style="text-align: left"><font style="display: inline; font: bold 10pt Times New Roman">6.  </font></div> </td> <td> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: bold 10pt Times New Roman">Investment in Equipment Subject to Operating Leases</font></div> </td> </tr></table> </div> <div style="text-indent: 0pt; display: block"><br /> </div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: justify"><font style="font: italic 10pt Times New Roman; display: inline">Aircraft Rotables</font></div> <div style="text-indent: 0pt; display: block"><br /> </div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font: 10pt Times New Roman">On June 19, 2013, Bravo purchased a lease for a 90% ownership interest in aircraft rotables located in the United States of America from SQN Fund II for $1,155,000, which includes the assumption by Bravo of a security deposit of $171,000. The Investment Manager re-tested the remaining lease term and determined the lease to be an operating lease. The lease has a remaining term which expires on February 13, 2015 and requires monthly rental payments of $16,220.</font></font><font style="display: inline; font: 10pt Times New Roman"><br />  </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font: 10pt Times New Roman">On June 19, 2013, Bravo purchased an additional lease for a 90% ownership interest in aircraft rotables located in the Australia from SQN Fund II for $310,000, which includes the assumption by Bravo of a security deposit of $29,700. The Investment Manager re-tested the remaining lease term and determined the lease to be an operating lease. The lease has a remaining term which expires on March 13, 2015 and requires monthly rental payments of $3,777.</font></font></div> <div style="text-indent: 0pt; display: block; margin-left: 435pt"><font style="display: inline; font: 10pt Times New Roman"><br /> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font: 10pt Times New Roman">As part of these transactions Bravo became a party to a participation agreement and a service agreement with an unrelated third party (the “Participant”). Under the participation agreement the Participant acquired a 10% ownership interest by providing 10% of the financing for each transaction. Under the service agreement the Participant will receive 5% of the gross payments from the lessees. The Participant will provide program management services and inventory tracking and monitoring services for all aircraft rotable parts. Bravo is required to remit the Participant’s portion of both the participation agreement and service agreement from the gross payments from the lessee within 10 days of receipt from the lessee.</font></font></div> <div style="text-indent: 0pt; display: block; margin-left: 435pt"><font style="display: inline; font: 10pt Times New Roman"><br /> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="font: italic 10pt Times New Roman; display: inline">Computer Equipment</font></font></div> <div style="text-indent: 0pt; display: block; margin-left: 435pt"><font style="display: inline; font: 10pt Times New Roman"><br /> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font: 10pt Times New Roman">On June 19, 2013, Bravo purchased a lease for computer equipment located in the United Kingdom from SQN Fund II for £88,862 ($140,402 applying the exchange rate used in the agreement). The Investment Manager re-tested the remaining lease term and determined the lease to be an operating lease. The lease has a remaining term through November 30, 2013 and requires monthly payments of £10,253 ($15,593 applying exchange rates as of June 30, 2013).</font></font></div> <div style="text-indent: 0pt; display: block; margin-left: 435pt"><font style="display: inline; font: 10pt Times New Roman"><br /> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font: 10pt Times New Roman">On June 19, 2013, Bravo purchased a lease for computer equipment located in the United Kingdom from SQN Fund II for £37,459 ($59,186 applying the exchange rate used in the agreement). The Investment Manager re-tested the remaining lease term and determined the lease to be an operating lease. The lease has three months remaining on its initial lease term and has one quarterly payment of £11,557 ($17,576 applying exchange rate as of June 30, 2013).</font></font></div> <div style="text-indent: 0pt; display: block; margin-left: 435pt"><font style="display: inline; font: 10pt Times New Roman"><br /> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman"><font style="font: italic 10pt Times New Roman; display: inline">Furniture and fixtures</font></font></div> <div style="text-indent: 0pt; display: block"><font style="display: inline; font: 10pt Times New Roman"><br /> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font: 10pt Times New Roman">On June 19, 2013, Bravo purchased a lease for furniture and fixtures located in the United Kingdom from SQN Fund II for £172,815 ($273,048 applying the exchange rate used in the agreement). The Investment Manager re-tested the remaining lease term and determined the lease to be an operating lease. The lease has a remaining term of 21 months and quarterly payments of £21,014 ($31,958 applying the exchange rate as of June 30, 2013).</font></font></div> </div> <div style="text-indent: 0pt; display: block"> </div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: justify"><font style="font: italic 10pt Times New Roman; display: inline">Reusable Plastic Bulk Storage Bins</font></div> <div style="text-indent: 0pt; display: block"><br /> </div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman">On April 4, 2013, the lessee of the reusable plastic bulk storage bins contacted the Partnership’s Investment Manager inquiring about purchasing 5,000 of the reusable plastic bulk storage bins. The purchase price was determined based upon the buy-out calculation in the lease agreement to be $508,725. The Partnership received cash, net of a refund of the security deposit payable totaling $148,588, of $360,137.</font></div> <div style="text-indent: 0pt; display: block"><br /> </div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman">On March 29, 2012, the Partnership entered into an operating lease transaction for 10,000 reusable plastic bulk storage bins used in the agricultural and food processing industries for $1,150,000 with a lease term of 60 months. The equipment is located in the United States of America. Under the terms of the agreement the Partnership received monthly payments, in advance, of $20,547. The lessee paid a security deposit of $297,176 which would be refunded at the termination of the lease period only if the lessee has made all its payments. The Partnership paid initial direct costs associated with the acquisition of this leased equipment totaling $42,641 which has been included in the cost of the leased equipment.</font></div> <div style="text-indent: 0pt; display: block"><br /> </div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman">Investments in equipment subject to operating leases consisted of the following:</font></div> <div style="text-indent: 0pt; display: block; margin-left: 9pt"> </div> <div style="text-indent: 0pt; display: block; margin-left: 9pt"> <div style="margin-left: 9pt; text-align: left"> <table cellpadding="0" cellspacing="0" style="width: 90%; font: 10pt times new roman; font-size: 10pt; font-family: times new roman"> <tr> <td style="vertical-align: bottom; width: 60%; padding-bottom: 2px">  </td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"> </td> <td colspan="2" style="vertical-align: bottom; width: 16%; border-bottom: black 2px solid; text-align: center"> <div>June 30, 2013 (Unaudited)</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"> </td> <td colspan="2" style="vertical-align: bottom; width: 16%; border-bottom: black 2px solid; text-align: center"> <div style="text-align: center">December 31, 2012</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"> </td> </tr><tr style="background-color: #cceeff"> <td style="text-align: left; vertical-align: bottom; width: 60%"> <div>Plastic bulk storage bins</div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left">$</td> <td style="vertical-align: bottom; width: 15%; text-align: right">596,320</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left">$</td> <td style="vertical-align: bottom; width: 15%; text-align: right">1,192,641</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> </tr><tr style="background-color: white"> <td style="text-align: left; vertical-align: bottom; width: 60%"> <div>Aircraft rotables</div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right">1,665,700</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right">—</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> </tr><tr style="background-color: #cceeff"> <td style="text-align: left; vertical-align: bottom; width: 60%"> <div>Computer equipment</div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right">140,402</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right">—</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> </tr><tr style="background-color: white"> <td style="text-align: left; vertical-align: bottom; width: 60%"> <div>Furniture and fixtures</div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right">332,234</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right">—</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> </tr><tr style="background-color: #cceeff"> <td style="text-align: left; vertical-align: bottom; width: 60%; padding-bottom: 2px"> <div>Accumulated depreciation</div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 2px solid; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 2px solid; text-align: right">(132,273</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px">)</td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 2px solid; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 2px solid; text-align: right">(111,807</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px">)</td> </tr><tr style="background-color: white"> <td style="vertical-align: bottom; width: 60%">  </td> <td style="vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right"> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 3%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: left"> </td> <td style="vertical-align: bottom; width: 15%; text-align: right"> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"> </td> </tr><tr style="background-color: #cceeff"> <td style="vertical-align: bottom; width: 60%; padding-bottom: 4px">  </td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 4px"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4px double; text-align: left">$</td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 4px double; text-align: right">2,602,383</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 4px"> </td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 4px"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4px double; text-align: left">$</td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 4px double; text-align: right">1,080,834</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 4px"> </td> </tr></table> </div> </div> <div style="margin-left: 9pt"> </div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: justify"><font style="display: inline; font: 10pt Times New Roman">At June 30, 2013, the aggregate amounts of future minimum lease payments receivable are as follows:</font></div> <div style="text-indent: 0pt; display: block; margin-left: 9pt"> </div> <div style="text-indent: 0pt; display: block; margin-left: 9pt"> <div style="margin-left: 9pt; text-align: left"> <table cellpadding="0" cellspacing="0" style="width: 90%; font: 10pt times new roman; font-size: 10pt; font-family: times new roman"> <tr> <td style="vertical-align: bottom; width: 40%; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td colspan="6" style="vertical-align: bottom; width: 36%; border-bottom: black 2px solid; text-align: center"> <div style="text-align: center"><font style="font-size: 10pt">Lease Payment Currencies</font></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%; border-bottom: black 2px solid"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> </tr><tr> <td style="vertical-align: bottom; width: 40%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%; border-bottom: black 2px solid; text-align: center"> <div><font style="font-size: 10pt">US Dollars</font></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%; border-bottom: black 2px solid; text-align: center"> <div style="text-align: center"><font style="font-size: 10pt">British Pounds (1)</font></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%; border-bottom: black 2px solid; text-align: center"> <div style="text-align: center"><font style="font-size: 10pt">Total</font></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> </tr><tr> <td style="vertical-align: bottom; width: 40%; border-bottom: black 2px solid; text-align: center"> <div><font style="font-size: 10pt">Years Ending June 30,</font></div> </td> <td style="vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td colspan="2" style="vertical-align: bottom; width: 16%"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> </tr><tr style="background-color: #cceeff"> <td style="text-align: left; vertical-align: bottom; width: 40%"> <div><font style="font-size: 10pt">2013</font></div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">363,252</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">256,542</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">619,794</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> </tr><tr style="background-color: white"> <td style="text-align: left; vertical-align: bottom; width: 40%"> <div><font style="font-size: 10pt">2014</font></div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">287,041</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">95,874</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">382,915</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> </tr><tr style="background-color: #cceeff"> <td style="text-align: left; vertical-align: bottom; width: 40%"> <div><font style="font-size: 10pt">2015</font></div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">123,288</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">—</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt">123,288</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> </tr><tr style="background-color: white"> <td style="text-align: left; vertical-align: bottom; width: 40%; padding-bottom: 2px"> <div><font style="font-size: 10pt">2016</font></div> </td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 2px solid; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 2px solid; text-align: right"><font style="font-size: 10pt">71,918</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 2px solid; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 2px solid; text-align: right"><font style="font-size: 10pt">—</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 2px solid; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 2px solid; text-align: right"><font style="font-size: 10pt">71,918</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 2px"><font style="font-size: 10pt"> </font></td> </tr><tr style="background-color: #cceeff"> <td style="vertical-align: bottom; width: 40%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 3%"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 15%; text-align: right"><font style="font-size: 10pt"> </font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left"><font style="font-size: 10pt"> </font></td> </tr><tr style="background-color: white"> <td style="vertical-align: bottom; width: 40%; padding-bottom: 4px"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 4px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4px double; text-align: left"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 4px double; text-align: right"><font style="font-size: 10pt">845,499</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 4px"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 4px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4px double; text-align: left"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 4px double; text-align: right"><font style="font-size: 10pt">352,416</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 4px"><font style="font-size: 10pt"> </font></td> <td style="text-align: left; vertical-align: bottom; width: 3%; padding-bottom: 4px"><font style="font-size: 10pt"> </font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4px double; text-align: left"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 15%; border-bottom: black 4px double; text-align: right"><font style="font-size: 10pt">1,197,915</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; text-align: left; padding-bottom: 4px"> </td> </tr></table> </div> </div> <div style="text-indent: 0pt; display: block"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman"> </font></div> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">(1) Converted to US Dollars at the June 30, 2013 exchange rate.</font></div> </div> <div style="text-indent: 0pt; display: block"> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61901-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37051-112695 false0Investment in Equipment Subject to Operating LeasesfalseInvestment in Equipment Subject to Operating LeasesUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://sqncapital.com/role/InvestmentInEquipmentSubjectToOperatingLeases12