JNCCF (Metalite Resources) Long-Term Capital Lease Obligation : $0.03 Mil (As of Sep. 2024)

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What is Metalite Resources Long-Term Capital Lease Obligation?

Metalite Resources's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2024 was $0.03 Mil.

Metalite Resources's quarterly Long-Term Capital Lease Obligation declined from Mar. 2024 ($0.03 Mil) to Jun. 2024 ($0.03 Mil) but then stayed the same from Jun. 2024 ($0.03 Mil) to Sep. 2024 ($0.03 Mil).

Metalite Resources's annual Long-Term Capital Lease Obligation stayed the same from Dec. 2021 ($0.00 Mil) to Dec. 2022 ($0.00 Mil) but then increased from Dec. 2022 ($0.00 Mil) to Dec. 2023 ($0.03 Mil).

Metalite Resources Long-Term Capital Lease Obligation Historical Data

The historical data trend for Metalite Resources'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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Metalite Resources Long-Term Capital Lease Obligation Chart

Metalite Resources Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

0.03

Metalite Resources Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.03	0.03	0.03	0.03	0.03

Metalite Resources (OTCPK:JNCCF) 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.

Metalite Resources Long-Term Capital Lease Obligation Related Terms

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Metalite Resources Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Metalite Resources Inc (OTCPK:JNCCF) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

METL:Canada

Address

82 Richmond Street East, Toronto, ON, CAN, M5C 1P1

Website

https://www.roogoldinc.com

Metalite Resources Inc is in the exploration for mineral resources in New South Wales, Australia. The company's project includes Arthur's Seat. The company also has an interest in an advanced-stage critical metals project located in Flett and Angus townships, Ontario.