Artelo Biosciences (Artelo Biosciences) Long-Term Capital Lease Obligation : $0.10 Mil (As of Mar. 2024)

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What is Artelo Biosciences Long-Term Capital Lease Obligation?

Artelo Biosciences's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.10 Mil.

Artelo Biosciences's quarterly Long-Term Capital Lease Obligation stayed the same from Sep. 2023 ($0.00 Mil) to Dec. 2023 ($0.00 Mil) but then increased from Dec. 2023 ($0.00 Mil) to Mar. 2024 ($0.10 Mil).

Artelo Biosciences's annual Long-Term Capital Lease Obligation declined from Aug. 2021 ($0.07 Mil) to Dec. 2022 ($0.02 Mil) and declined from Dec. 2022 ($0.02 Mil) to Dec. 2023 ($0.00 Mil).

Artelo Biosciences Long-Term Capital Lease Obligation Historical Data

The historical data trend for Artelo Biosciences'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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Artelo Biosciences Long-Term Capital Lease Obligation Chart

Artelo Biosciences Annual Data

Trend

Aug14

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Dec23

Long-Term Capital Lease Obligation

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0.07

0.02

Artelo Biosciences Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.02	0.01	-	-	0.10

Artelo Biosciences (NAS:ARTLW) 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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Artelo Biosciences (Artelo Biosciences) Business Description

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ARTL:USA

Address

505 Lomas Santa Fe, Suite 160, Solana Beach, CA, USA, 92075

Website

https://www.artelobio.com

Artelo Biosciences Inc is a United States-based development-stage biopharmaceutical company. It is engaged in development of therapeutics that target lipid signaling pathways, including the endocannabinoid system, a family of receptors and neurotransmitters that form a biochemical communication network in body. It is focused on discovering, licensing, developing and commercializing treatments that control endocannabinoid system. The company pursues technologies and programs that offer proprietary approaches to cannabinoid-based therapies, also those derived from the cannabis plant and synthetic cannabinoids, as well as new chemical entities and compounds. The firm's flagship program is designed to be a patent-protected cannabinoid drug combination treatment for a rare and orphan disease.