Flexpoint Sensor Systems (Flexpoint Sensor Systems) Long-Term Capital Lease Obligation : $0.20 Mil (As of Dec. 2023)

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What is Flexpoint Sensor Systems Long-Term Capital Lease Obligation?

Flexpoint Sensor Systems's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.20 Mil.

Flexpoint Sensor Systems's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($0.17 Mil) to Sep. 2023 ($0.16 Mil) but then increased from Sep. 2023 ($0.16 Mil) to Dec. 2023 ($0.20 Mil).

Flexpoint Sensor Systems's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($0.00 Mil) to Dec. 2022 ($0.20 Mil) and increased from Dec. 2022 ($0.20 Mil) to Dec. 2023 ($0.20 Mil).

Flexpoint Sensor Systems Long-Term Capital Lease Obligation Historical Data

The historical data trend for Flexpoint Sensor Systems'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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Flexpoint Sensor Systems Long-Term Capital Lease Obligation Chart

Flexpoint Sensor Systems Annual Data

Trend

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Long-Term Capital Lease Obligation

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0.20

Flexpoint Sensor Systems Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.20	0.18	0.17	0.16	0.20

Flexpoint Sensor Systems (OTCPK:FLXT) 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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Flexpoint Sensor Systems (Flexpoint Sensor Systems) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Flexpoint Sensor Systems Inc (OTCPK:FLXT) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

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Address

5718 W Dannon Way, Suite B, West Jordan, UT, USA, 84081

Website

https://www.flexpoint.com

Flexpoint Sensor Systems Inc designs, manufactures and markets flexible Bend Sensor technology. The Bend Sensor is used for myriad applications, spanning multiple markets such as automotive and transportation, wearables, medical, industrial controls, consumer products, and toys/gaming. Its products include Bend Sensor, and USB Bend Sensor Kit.

Executives

Clark M Mower	director, officer: President, CEO	106 W. BUSINESS PARK DRIVE, DRAPER UT 84020
Thomas N Strong	officer: CFO/comptroller & Sec./Treas.	106 WEST BUSINESS PARK DRIVE, DRAPER UT 84020
Atkinson B Fred Jr	officer: Secretary/Treasurer	106 W. BUSINESS PARK DRIVE, DRAPER UT 84020
Gill Ruland J Jr	director	532 HERITAGE DRIVE, BOUNTIFUL UT 84010
John A Sindt	director	47 E 7200 SOUTH, #201, MIDVALE UT 84047
Donald E Shelley	other: Former Sec./Treas.	160 W 1200 S, DRAPER UT 84020
First Equity Holdings Corp	10 percent owner	2157 S LINCOLN ST, SALT LAKE CITY UT 84106