Forge Innovation Development (Forge Innovation Development) Long-Term Capital Lease Obligation : $0.00 Mil (As of Mar. 2024)

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What is Forge Innovation Development Long-Term Capital Lease Obligation?

Forge Innovation Development's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $0.00 Mil.

Forge Innovation Development Long-Term Capital Lease Obligation Historical Data

The historical data trend for Forge Innovation Development'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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Forge Innovation Development Long-Term Capital Lease Obligation Chart

Forge Innovation Development Annual Data

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Long-Term Capital Lease Obligation

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0.07

Forge Innovation Development Quarterly Data
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Forge Innovation Development (OTCPK:FGNV) 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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Forge Innovation Development (Forge Innovation Development) Business Description

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GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Forge Innovation Development Corp (OTCPK:FGNV) » Definitions » Long-Term Capital Lease Obligation

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Address

6280 Mission Boulevard, Unit 205, Jurupa Valley, CA, USA, 92509

Website

https://www.forgecorpusa.com

Forge Innovation Development Corp is a real estate development company. The company is engaged in commercial and residential land development, including purchase and sale of real estate, targeting properties in Southern California. Its primary business is to acquire land and develop and sell fully constructed homes and commercial property such as stores, offices, and private schools, among others to non-affiliated third parties. It also intends to invest its funds in income-yielding properties.

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