NOTE 6 - CAPITAL LEASE

On March 18, 2015, the Company entered into a capital lease agreement with a third party to rent office equipment. Per the lease term, the monthly payment is $481 over a lease term of 48 months. The lease term is 48 months and includes a $1 bargain purchase option at the end of the lease term. The capital lease obligation consists of the following at March 31, 2015:

Apple Capital lease-#1, interest at 22.502% per annum, payments of $481 per month, for 48 months	$	15,230
Less: current portion of capital lease obligations		(2,526	)
Long-term portion of capital lease obligations	$	12,704


The future minimum lease payments required under the capital lease and the present value of the minimum lease payments as of March 31, 2015 are as follows:
For the year ending March 31,
2016	$	5,772
2017		5,772
2018		5,772
2019		5,290
Total minimum lease payments		22,606
Less: amount representing interest		(7,376	)
Present value of net minimum lease and obligation		15,230
Less: current maturities of capital lease and obligation		(2,526	)
Long-term capital lease obligation	$	12,704