Mag Mile Capital (Mag Mile Capital) Long-Term Capital Lease Obligation : $0.31 Mil (As of Mar. 2024)

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What is Mag Mile Capital Long-Term Capital Lease Obligation?

Mag Mile Capital's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.31 Mil.

Mag Mile Capital's quarterly Long-Term Capital Lease Obligation increased from Jul. 2023 ($0.16 Mil) to Dec. 2023 ($0.30 Mil) and increased from Dec. 2023 ($0.30 Mil) to Mar. 2024 ($0.31 Mil).

Mag Mile Capital's annual Long-Term Capital Lease Obligation stayed the same from Jul. 2021 ($0.00 Mil) to Jul. 2022 ($0.00 Mil) but then increased from Jul. 2022 ($0.00 Mil) to Dec. 2023 ($0.30 Mil).

Mag Mile Capital Long-Term Capital Lease Obligation Historical Data

The historical data trend for Mag Mile Capital'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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Mag Mile Capital Long-Term Capital Lease Obligation Chart

Mag Mile Capital Annual Data

Trend

Jul21

Jul22

Dec23

Long-Term Capital Lease Obligation

0.30

Mag Mile Capital Quarterly Data
	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial						-	0.17	0.16	0.30	0.31

Mag Mile Capital (OTCPK:MMCP) 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.

Mag Mile Capital Long-Term Capital Lease Obligation Related Terms

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Mag Mile Capital (Mag Mile Capital) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Mag Mile Capital Inc (OTCPK:MMCP) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

7950 W. Sunset Boulevard, Suite 629, Los Angeles, CA, USA, 90046

Website

https://www.magmilecapital.com

Mag Mile Capital Inc is a full-service commercial real estate mortgage banking firm. Mag Mile Capital is a national platform comprised of capital markets experience in real estate bridge financing, mezzanine, and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes, including hotels, multifamily, office, retail, industrial, healthcare, self-storage and special purpose properties, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs, It leverages a wide variety of lending relationships and equity capital connections as a leading national real estate mortgage intermediary.

Mag Mile Capital (Mag Mile Capital) Headlines

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