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CAPITAL LEASE OBLIGATIONS
6 Months Ended
Mar. 31, 2021
Disclosure Text Block [Abstract]  
Debt and Capital Leases Disclosures [Text Block]

NOTE 5:  CAPITAL LEASE OBLIGATIONS


At March 31, 2021, September 30, 2020, and March 31, 2020, capital lease obligations consisted of the following:


March 31,

2021

(Unaudited)

September 30,

2020

(Audited)

March 31,

2020

(Unaudited)

A 2016 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,159, including interest at 4.532% per annum, through January 2023.

$

22,912

$

29,261

$

35,469

A 2018 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,147, including interest at 4.644% per annum, through September 2024.

42,744

48,552

54,228

A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.181% per annum, through May 2025.

50,633

56,411

62,070

A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.101% per annum, through December 2025.

57,207

62,874

68,425

A 2020 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,166, including interest at 5.406% per annum, through May 2027.

 

73,237

 

78,176

 

 -

246,733

275,274

220,192

Less current portion

 

(59,065)

 

(54,749)

 

(46,697)

Total capital lease obligations

$

187,668

$

220,525

$

173,495


At March 31, 2021, future minimum payments on the capital lease obligations were as follows:


For the Twelve Months Ending March 31,

2021

$

69,288

2022

65,329

2023

55,380

2024

46,392

2025

21,538

Thereafter

 

16,325

Present value of future minimum payments

274,252

Less amount representing interest

 

(27,519)

246,733

Less current portion of capital lease obligations

 

(59,065)

Total capital lease obligations, net of current portion

$

187,668