ReadCloud (ASX:RCL) Long-Term Capital Lease Obligation : A$0.09 Mil (As of Sep. 2023)

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What is ReadCloud Long-Term Capital Lease Obligation?

ReadCloud's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was A$0.09 Mil.

ReadCloud's quarterly Long-Term Capital Lease Obligation declined from Sep. 2022 (A$0.22 Mil) to Mar. 2023 (A$0.00 Mil) but then increased from Mar. 2023 (A$0.00 Mil) to Sep. 2023 (A$0.09 Mil).

ReadCloud's annual Long-Term Capital Lease Obligation increased from Jun. 2021 (A$0.16 Mil) to Sep. 2022 (A$0.22 Mil) but then declined from Sep. 2022 (A$0.22 Mil) to Sep. 2023 (A$0.09 Mil).

ReadCloud Long-Term Capital Lease Obligation Historical Data

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

ReadCloud Annual Data

Trend

Jun17

Jun18

Jun19

Jun20

Jun21

Sep22

Sep23

Long-Term Capital Lease Obligation

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0.15

0.16

0.22

0.09

ReadCloud Semi-Annual Data
	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Mar22	Sep22	Mar23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial						0.16	-	0.22	-	0.09

ReadCloud (ASX:RCL) 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.

ReadCloud Long-Term Capital Lease Obligation Related Terms

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ReadCloud (ASX:RCL) Business Description

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Address

126 Church Street, Level 1, Brighton, VIC, AUS, 3186

Website

https://www.readcloud.com

ReadCloud Ltd is an education technology company that offers digital e-learning solutions to secondary schools. The firm operates in two segments: eBook solutions, which is the key revenue driver, and Vocational Education and Training (VET). It provides software solutions, including eBooks, to schools within Australia. In addition, it also provides digital VET course materials and services to schools through its subsidiary Australian Institute of Education and Training Unit Trust, PKY Media Pty Ltd and Ripponlea Institute Pty Ltd, which offers over 40 VET courses and services to schools across Australia.