POSaBIT Systems (XCNQ:PBIT) Long-Term Capital Lease Obligation : C$0.02 Mil (As of Dec. 2023)

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What is POSaBIT Systems Long-Term Capital Lease Obligation?

POSaBIT Systems's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.02 Mil.

POSaBIT Systems's quarterly Long-Term Capital Lease Obligation increased from Jun. 2023 (C$0.00 Mil) to Sep. 2023 (C$0.05 Mil) but then declined from Sep. 2023 (C$0.05 Mil) to Dec. 2023 (C$0.02 Mil).

POSaBIT Systems's annual Long-Term Capital Lease Obligation stayed the same from Dec. 2021 (C$0.00 Mil) to Dec. 2022 (C$0.00 Mil) but then increased from Dec. 2022 (C$0.00 Mil) to Dec. 2023 (C$0.02 Mil).

POSaBIT Systems Long-Term Capital Lease Obligation Historical Data

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

POSaBIT Systems Annual Data

Trend

Oct17

Oct18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.02

POSaBIT Systems Quarterly Data
	Jan19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	-	-	0.05	0.02

POSaBIT Systems (XCNQ:PBIT) 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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POSaBIT Systems (XCNQ:PBIT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » POSaBIT Systems Corp (XCNQ:PBIT) » Definitions » Long-Term Capital Lease Obligation

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POSAF:USA

Address

11915 124th Ave NE, Kirkland, WA, USA, 98034

Website

https://www.posabit.com

POSaBIT Systems Corp is a financial technology company. The company involves the point-of-sale arrangements designed to offer consumers an easy way to purchase goods and services. The company offers Payment Services and Point-of-Sale (POS) Services. The majority of its revenue comes from Payment Services, which generates revenues via setup costs, hardware costs, transaction fees, and convenience fees. Its geographical segments are Canada and the United States, of which all of its revenues come from the United States.

Executives

Alex Sharp

10% Security Holder

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