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CAPITAL LEASE OBLIGATIONS
6 Months Ended
Mar. 31, 2022
Debt and Capital Leases Disclosure [Abstract]  
Debt and Capital Leases Disclosure [Text Block]

NOTE 5:  CAPITAL LEASE OBLIGATIONS

 

At March 31, 2022, September 30, 2021, and March 31, 2021, capital lease obligations consisted of the following:

 

March 31,

2022

September 30,

2021

March 31,

2021

A 2016 Hino truck leased from Donahue Transportation
Services Corp, payable in monthly installments of $1,167,
including interest at 4.532% per annum, through
December 2022.
 

$
 

9,681
 

$
 

16,373
 

$
 

22,912
 

A 2018 Hino truck leased from Donahue Transportation
Services Corp, payable in monthly installments of $1,154,
including interest at 4.644% per annum, through August
2024.
 

30,633
 

36,762
 

42,744
 

A 2019 Hino truck leased from Donahue Transportation
Services Corp, payable in monthly installments of $1,162,
including interest at 4.181% per annum, through March
2025.
 

38,585
 

44,677
 

50,633
 

A 2019 Hino truck leased from Donahue Transportation
Services Corp, payable in monthly installments of $1,152,
including interest at 4.101% per annum, through
September 2025.
 

45,512
 

51,419
 

57,207
 

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.
 

 

62,951
 

 

68,164
 

 

73,237
 

187,362

217,395

246,733

Less current portion

 

(57,989)

 

(60,757)

 

(59,065)

Total capital lease obligations

$

129,373

$

156,638

$

187,668

At March 31, 2022, future minimum payments on the capital lease obligations were as follows:

 

For the Twelve Months Ending March 31,

     

2022

 

$

65,467

2023

   

55,612

2024

   

45,686

2025

   

21,494

2026

   

16,324

Thereafter

 

 

-

Present value of future minimum payments

   

204,583

Less amount representing interest

 

 

(17,221)

     

187,362

Less current portion of capital lease obligations

 

 

(57,989)

Total capital lease obligations, net of current portion

 

$

129,373