Cytophage Technologies (TSXV:CYTO) Long-Term Capital Lease Obligation : C$1.39 Mil (As of Mar. 2024)

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What is Cytophage Technologies Long-Term Capital Lease Obligation?

Cytophage Technologies's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$1.39 Mil.

Cytophage Technologies's quarterly Long-Term Capital Lease Obligation stayed the same from Sep. 2023 (C$0.00 Mil) to Dec. 2023 (C$0.00 Mil) but then increased from Dec. 2023 (C$0.00 Mil) to Mar. 2024 (C$1.39 Mil).

Cytophage Technologies's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (C$0.11 Mil) to Dec. 2022 (C$0.00 Mil) but then stayed the same from Dec. 2022 (C$0.00 Mil) to Dec. 2023 (C$0.00 Mil).

Cytophage Technologies Long-Term Capital Lease Obligation Historical Data

The historical data trend for Cytophage Technologies'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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Cytophage Technologies Long-Term Capital Lease Obligation Chart

Cytophage Technologies Annual Data

Trend

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

0.11

Cytophage Technologies Quarterly Data
	Dec21	Sep22	Dec22	Mar23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial			-	-	-	-	1.39

Cytophage Technologies (TSXV:CYTO) 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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Cytophage Technologies (TSXV:CYTO) Business Description

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Cytophage Technologies Ltd is a Canadian biotechnology company that uses molecular genetic techniques and synthetic biology to create effective bacteriophages to address bacterial challenges affecting animal health, human health, and food security. Bacteriophages are viruses that have evolved to specifically target and destroy strictly bacterial cells and are safe for humans, animals, and plants. To combat dangerous bacteria company generates phages to address specific bacterial infections, including strains resistant to antibiotics. It has also developed a 'phage-display' methodology to develop vaccine-like products using bacteriophages for a number of potential applications in human and animal health.