MJ Harvest (MJ Harvest) Long-Term Capital Lease Obligation : $2.81 Mil (As of Feb. 2023)

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What is MJ Harvest Long-Term Capital Lease Obligation?

MJ Harvest's Long-Term Capital Lease Obligation for the quarter that ended in Feb. 2023 was $2.81 Mil.

MJ Harvest's quarterly Long-Term Capital Lease Obligation declined from Aug. 2022 ($3.14 Mil) to Nov. 2022 ($2.97 Mil) and declined from Nov. 2022 ($2.97 Mil) to Feb. 2023 ($2.81 Mil).

MJ Harvest's annual Long-Term Capital Lease Obligation stayed the same from May. 2020 ($0.00 Mil) to May. 2021 ($0.00 Mil) but then increased from May. 2021 ($0.00 Mil) to May. 2022 ($0.25 Mil).

MJ Harvest Long-Term Capital Lease Obligation Historical Data

The historical data trend for MJ Harvest's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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MJ Harvest Long-Term Capital Lease Obligation Chart

MJ Harvest Annual Data

Trend

May19

May20

May21

May22

Long-Term Capital Lease Obligation

0.25

MJ Harvest Quarterly Data
	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial													-	0.25	3.14	2.97	2.81

MJ Harvest (OTCPK:MJHI) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

MJ Harvest Long-Term Capital Lease Obligation Related Terms

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MJ Harvest (MJ Harvest) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » MJ Harvest Inc (OTCPK:MJHI) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

9205 West Russell Road, Suite 240, Las Vegas, NV, USA, 89139

Website

https://www.mjharvestinc.com

MJ Harvest Inc cultivates, harvests, manufactures, and sells cannabis products. It also acquires and markets products and technologies that are designed to benefit growers and processors in the horticultural and agricultural industries.

Executives

David Tobias	director	PO BOX 1602, MESQUITE NV 89024
Jerry Cornwell	director, 10 percent owner	14424 SE 78TH WAY, NEW CASTLE WA 98059
Brad E Herr	officer: CFO	5413 S SAYBROOK LANE, SPOKANE WA 99223
Patrick Bilton	director, 10 percent owner, officer: Chief Executive Officer	9205 W RUSSELL ROAD, SUITE 240, LAS VEGAS NV 89139