Vertical Exploration (TSXV:VERT) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Nov. 2023)

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What is Vertical Exploration Long-Term Capital Lease Obligation?

Vertical Exploration's Long-Term Capital Lease Obligation for the quarter that ended in Nov. 2023 was C$0.00 Mil.

Vertical Exploration Long-Term Capital Lease Obligation Historical Data

The historical data trend for Vertical Exploration'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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Vertical Exploration Long-Term Capital Lease Obligation Chart

Vertical Exploration Annual Data

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Long-Term Capital Lease Obligation

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Vertical Exploration Quarterly Data
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Vertical Exploration (TSXV:VERT) 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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Vertical Exploration (TSXV:VERT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Vertical Exploration Inc (TSXV:VERT) » Definitions » Long-Term Capital Lease Obligation

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CVVRF:USA

Address

789 West Pender Street, Suite 1240, Vancouver, BC, CAN, V6C 1H2

Website

https://www.vertxinc.com

Vertical Exploration Inc is a junior mining company. It is engaged in the acquisition, exploration development, and evaluation of mineral properties in Canada. It has one project namely, St. Onge Wollastonite is located in Quebec, Canada.

Executives

Ernest Brisbane

Director

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