XML 55 R13.htm IDEA: XBRL DOCUMENT v3.20.1
7. Lease Liability
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Lease Liability

NOTE–7       LEASE LIABILITY

 

The Company purchased a service vehicle under a finance lease agreement with the effective interest rate of 2.25% per annum, due through May 29, 2020, with principal and interest payable monthly.

 

Right of use assets and lease liability – right of use are as follows:

 

   As of December 31 
   2019   2018 
           
Right of use assets  $47,508   $83,728 

 

The lease liability – right of use is as follows:

 

   As of December 31 
   2019   2018 
         
Current portion  $8,333   $20,000 
Non-current portion       8,333 
           
Total  $8,333   $28,333 

 

As of December 31, 2019, the finance lease of $8,333 will become matured in the next 12 months.