Albert Labs International (XCNQ:ABRT) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Sep. 2023)

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What is Albert Labs International Long-Term Capital Lease Obligation?

Albert Labs International's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was C$0.00 Mil.

Albert Labs International Long-Term Capital Lease Obligation Historical Data

The historical data trend for Albert Labs International'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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Albert Labs International Long-Term Capital Lease Obligation Chart

Albert Labs International Annual Data

Trend

Dec21

Dec22

Long-Term Capital Lease Obligation

Albert Labs International Quarterly Data
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Albert Labs International (XCNQ:ABRT) 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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Albert Labs International (XCNQ:ABRT) Business Description

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Address

6996, Merritt Avenue, Burnaby, BC, CAN, V5J 4R6

Website

https://www.albertlabs.com

Albert Labs International Corp is a laboratory-based, clinical research and drug development enterprise addressing mental health care needs. The company is focusing on Real World Evidence (RWE) the company will initially look to commercialize its mycelium-based KRN-101 medicine and treatment with the help of clinical pathway.

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