COMMITMENTS AND CONTINGENT LIABILITIES |
The Company had the following significant commitments and contingencies
as of September 30, 2016:
|
Payments Due By Period |
Contractual obligations |
Total |
Less than 1 year |
2-3 years |
4-5 years |
After 5 years |
Initial cash distribution payable(1) |
$ 6,620,623 |
$ 6,620,623(2) |
$ - |
$ - |
$ - |
Second cash distribution payable(1) |
1,912,943 |
1,912,943(2) |
- |
- |
- |
Office lease(3) |
21,560 |
14,373 |
7,187 |
- |
- |
TOTAL |
$ 8,555,126 |
$ 8,547,939 |
$ 7,187 |
$ - |
$ - |
|
|
|
|
|
|
(1) |
See Note 4 – Shareholders’ Equity
for additional information regarding the initial cash distribution payable and the second cash distribution payable. |
(2) |
These distributions are currently payable, subject
to the entitled shareholders 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. |
(3) |
FFIN entered into a lease agreement on January
1, 2015, for office space that expires in June 2017. |
|