Rock Tech Lithium (TSXV:RCK) Long-Term Capital Lease Obligation : C$0.59 Mil (As of Sep. 2023)

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What is Rock Tech Lithium Long-Term Capital Lease Obligation?

Rock Tech Lithium's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was C$0.59 Mil.

Rock Tech Lithium's quarterly Long-Term Capital Lease Obligation declined from Mar. 2023 (C$0.71 Mil) to Jun. 2023 (C$0.65 Mil) and declined from Jun. 2023 (C$0.65 Mil) to Sep. 2023 (C$0.59 Mil).

Rock Tech Lithium's annual Long-Term Capital Lease Obligation increased from Dec. 2020 (C$0.00 Mil) to Dec. 2021 (C$0.09 Mil) and increased from Dec. 2021 (C$0.09 Mil) to Dec. 2022 (C$0.75 Mil).

Rock Tech Lithium Long-Term Capital Lease Obligation Historical Data

The historical data trend for Rock Tech Lithium'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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Rock Tech Lithium Long-Term Capital Lease Obligation Chart

Rock Tech Lithium Annual Data

Trend

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Dec22

Long-Term Capital Lease Obligation

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0.09

0.75

Rock Tech Lithium Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.74	0.75	0.71	0.65	0.59

Rock Tech Lithium (TSXV:RCK) 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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Rock Tech Lithium (TSXV:RCK) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Rock Tech Lithium Inc (TSXV:RCK) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

RCKTF:USA RJIB:Germany

Address

777 Hornby Street, Suite 600, Vancouver, BC, CAN, V6Z 1S4

Website

https://www.rocktechlithium.com

Rock Tech Lithium Inc is a Canada-based mineral exploration company. It focuses on acquiring and exploring properties in the field of lithium and other selected battery metals. The company holds a 100% interest in the Georgia Lake lithium project in the Thunder Bay Mining District of Ontario. The company operates in two geographical segments namely; Canada and Germany.

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