Annual report pursuant to Section 13 and 15(d)

Borrowings

v3.20.4
Borrowings
12 Months Ended
Dec. 31, 2020
Disclosure of Borrowings [Abstract]  
Borrowings

Note 4 – Borrowings

 

Automobile and Equipment Leases

 

As of December 31, 2020 and 2019, the Company’s borrowings consisted of automobile and equipment leases. Interest rates ranged from 4% to 12%. The principal and interest payments extend through November 30, 2021.

 

Future minimum lease payments under non-cancelable capital leases as of December 31, 2020 were as follows:

 

Year ending December 31, 2021   $ 20,943  
Less: Interest expenses     1,237  
Total   $ 19,706