MMTEC (MTC) Long-Term Capital Lease Obligation : $0.27 Mil (As of Dec. 2023)

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What is MMTEC Long-Term Capital Lease Obligation?

MMTEC's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.27 Mil.

MMTEC's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 ($0.65 Mil) to Jun. 2023 ($0.41 Mil) and declined from Jun. 2023 ($0.41 Mil) to Dec. 2023 ($0.27 Mil).

MMTEC's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($0.11 Mil) to Dec. 2022 ($0.65 Mil) but then declined from Dec. 2022 ($0.65 Mil) to Dec. 2023 ($0.27 Mil).

MMTEC Long-Term Capital Lease Obligation Historical Data

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

MMTEC Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.65

0.32

0.11

0.65

0.27

MMTEC Semi-Annual Data
	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial										0.11	0.79	0.65	0.41	0.27

MMTEC (NAS:MTC) 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.

MMTEC Long-Term Capital Lease Obligation Related Terms

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MMTEC (MTC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » MMTEC Inc (NAS:MTC) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

c/o MM Future Technology Limited, 308 Des Voeux Road Central, Room 2302, 23rd Floor, FWD Financial Center, Sheung Wan, HKG

Website

https://www.haisc.com

MMTEC Inc provides Internet-based technology services and solutions to the Chinese language speaking hedge funds, mutual funds, registered investment advisors, proprietary trading groups, and brokerage firms engaging in securities market transactions and settlements globally. It offers complete suite trading solutions, including services such as fund establishment, issuance, custody, transaction, and settlement. The Company currently has two operating segments, Gujia, MM Future, MMBD Advisory and HC Securities, and MM Global. It generates maximum revenue from the Gujia segment. Gujia segment provides market data services and investor relations management services to customers in China.