Investment in Leasing Operations

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Investment in Leasing Operations

Note 5 - Investment in Leasing Operations

Investment in leasing operations consists of the following:

	December 31, 2019			December 31, 2018
Sales-type leases:
Minimum lease payments receivable	$	157,542		$	-
Unearned income		(47,114	)		-
Guaranteed residual value of vehicles		690,333			-
Total investment in leasing operations	$	800,761		$	-

As of December 31, 2019, the total investment in sales-type leases is classified as short-term as all leases are due within one year of the balance sheet date. There were no such leases at December 31, 2018.

The assets held under the investment are leased to one customer. A certain residual value of the vehicles is guaranteed by this customer, whether the customer ultimately purchases the vehicle at the end of the lease term or not.