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Sorrento Resources (XCNQ:SRS) Long-Term Capital Lease Obligation : C$0.00 Mil (As of Dec. 2023)


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What is Sorrento Resources Long-Term Capital Lease Obligation?

Sorrento Resources's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.00 Mil.


Sorrento Resources Long-Term Capital Lease Obligation Historical Data

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

Sorrento Resources Annual Data
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Long-Term Capital Lease Obligation
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Sorrento Resources Quarterly Data
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Sorrento Resources  (XCNQ:SRS) 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.

Sorrento Resources Long-Term Capital Lease Obligation Related Terms

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Sorrento Resources (XCNQ:SRS) Business Description

Traded in Other Exchanges
Address
9285 - 203B Street, Langley, BC, CAN, V1M 2L9
Sorrento Resources Ltd engages in the exploration, development, and exploitation of mineral resources in Canada. Its projects include Wing Pond project, Harmsworth project, PEG lithium project, Silver Mountain project and others.
Executives
Blair Lawrence Naughty 10% Security Holder

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