Lexagene Holdings (Lexagene Holdings) Long-Term Capital Lease Obligation : $0.56 Mil (As of Nov. 2022)

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What is Lexagene Holdings Long-Term Capital Lease Obligation?

Lexagene Holdings's Long-Term Capital Lease Obligation for the quarter that ended in Nov. 2022 was $0.56 Mil.

Lexagene Holdings's quarterly Long-Term Capital Lease Obligation declined from May. 2022 ($0.79 Mil) to Aug. 2022 ($0.65 Mil) and declined from Aug. 2022 ($0.65 Mil) to Nov. 2022 ($0.56 Mil).

Lexagene Holdings's annual Long-Term Capital Lease Obligation declined from Feb. 2020 ($1.61 Mil) to Feb. 2021 ($1.29 Mil) and declined from Feb. 2021 ($1.29 Mil) to Feb. 2022 ($0.90 Mil).

Lexagene Holdings Long-Term Capital Lease Obligation Historical Data

The historical data trend for Lexagene Holdings'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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Lexagene Holdings Long-Term Capital Lease Obligation Chart

Lexagene Holdings Annual Data

Trend

Mar13

Mar14

Mar15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Long-Term Capital Lease Obligation

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1.61

1.29

0.90

Lexagene Holdings Quarterly Data
	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.93	0.90	0.79	0.65	0.56

Lexagene Holdings (OTCPK:LXXGQ) 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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Lexagene Holdings (Lexagene Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Lexagene Holdings Inc (OTCPK:LXXGQ) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

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Address

500 Cummings Center, Suite 4550, Beverly, MA, USA, 01915

Website

https://www.lexagene.com

Lexagene Holdings Inc is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, and for use in open-access markets such as food and water safety, clinical research, agricultural testing and biodefense. The MiQLab system delivers sensitivity, specificity, and breadth of detection and can return results in approximately two hours. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.