|
The table below shows approximate lease commitments
and other contingent liabilities of the Company for the foreseeable period of one year ending June 30, 2018:
| Contractual obligations |
|
|
|
| |
|
|
|
| Deferred distribution payable (1) |
|
$ |
8,534 |
|
| Office lease(2) |
|
|
1,907 |
|
| |
|
|
|
|
| Total |
|
$ |
10,441 |
|
| (1) |
This distribution is currently payable, subject to the entitled shareholder completing and submitting to the Company the necessary documentation to claim his, her or its distribution payments. The Company has no control over when, or if, an entitled shareholder will submit the necessary documentation to claim his, her, or its distribution payment. |
| (2) |
The Company has number of lease agreements for
office spaces in different locations. In general, all agreements are made for a one year period with extension or termination
provisions. |
The Company’s rent expense for office space
was $377 and $297 for the three-month ended June 30, 2017 and 2016, respectively.
|