Cardiol Therapeutics (TSX:CRDL) Long-Term Capital Lease Obligation : C$0.15 Mil (As of Mar. 2024)

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What is Cardiol Therapeutics Long-Term Capital Lease Obligation?

Cardiol Therapeutics's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$0.15 Mil.

Cardiol Therapeutics's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (C$0.15 Mil) to Dec. 2023 (C$0.16 Mil) but then declined from Dec. 2023 (C$0.16 Mil) to Mar. 2024 (C$0.15 Mil).

Cardiol Therapeutics's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (C$0.07 Mil) to Dec. 2022 (C$0.02 Mil) but then increased from Dec. 2022 (C$0.02 Mil) to Dec. 2023 (C$0.16 Mil).

Cardiol Therapeutics Long-Term Capital Lease Obligation Historical Data

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

Cardiol Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.14

0.11

0.07

0.02

0.16

Cardiol Therapeutics Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.01	-	0.15	0.16	0.15

Cardiol Therapeutics (TSX:CRDL) 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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Cardiol Therapeutics (TSX:CRDL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Cardiol Therapeutics Inc (TSX:CRDL) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

CRDL:USA CT9:Germany

Address

2265 Upper Middle Road East, Suite 602, Oakville, ON, CAN, L6H 0G5

Website

https://www.cardiolrx.com

Cardiol Therapeutics Inc is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart diseases. The company's lead product candidate, CardiolRx, is a pharmaceutically manufactured oral cannabidiol formulation that is being clinically developed for use in heart diseases. Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart which are a Phase II multi-national trial, the ARCHER trial, in acute myocarditis; and a Phase II multi-center open-label pilot study in recurrent pericarditis.

Executives

Guillermo Torre

Senior Officer