Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

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Commitments and Contingencies
9 Months Ended
Sep. 30, 2016
Capital Lease Obligations [Abstract]  
Commitments and Contingencies

Note 8 – Commitments and Contingencies

Operating Lease Obligation

 

Since August 22, 2014 (the amending date) the Company has expanded its leased facilities in San Diego, California for a period of 66 months.

 

Pursuant to this lease, aggregate minimum lease payments over the next five years are as follows;

         
September 30,        
2017   $ 284,814  
2018     298,388  
2019     308,831  
2020     132,280  
Total   $ 1,024,313  

 

Effective January 1, 2015, the Company’s subsidiary 5BARz India Private Limited entered into an facility lease agreement for five (5) years at a monthly lease rate of 60,000 Indian rupees ($900 USD) per month.

 

At September 30, 2016, the aggregate minimum lease payments over the next five years are as follows;

 

         
September 30,        
2017   $ 10,800  
2018     10,800  
2019     10,800  
2020     2,700  
Total   $ 35,100