Ultrack Systems (Ultrack Systems) Long-Term Capital Lease Obligation : $0.00 Mil (As of . 20)

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What is Ultrack Systems Long-Term Capital Lease Obligation?

Ultrack Systems's Long-Term Capital Lease Obligation for the quarter that ended in . 20 was $0.00 Mil.

Ultrack Systems Long-Term Capital Lease Obligation Historical Data

The historical data trend for Ultrack Systems'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.
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Ultrack Systems Long-Term Capital Lease Obligation Chart

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Ultrack Systems (OTCPK:MJLB) 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.

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Ultrack Systems (Ultrack Systems) Business Description

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Address

11 Buttermill Avenue, Concord, ON, CAN, L4K 3X1

Website

https://www.ultrack.ca

Ultrack Systems Inc helps its clients locate, track, and manage their assets using wireless and GPS-based technologies. It provides an accurate and affordable means of tracking moving assets. Its compact trackers and easy-to-use tracking software allow the monitor or track any asset virtually anywhere in the world. This kind of application results in improved security, productivity, and customer service. Each vehicle outfitted with a unit can be seen from a virtual map platform and managing a fleet of vehicles becomes easy, efficient, and effortless. This tool is useful in determining the quality of the driver behind the wheel and who is an asset or a liability to the company.

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