Coda Octopus Group, Inc. Leases Disclosure
NOTE 12 - OPERATING LEASES
The Company occupies various office and warehouse facilities pursuant to both term and month-to-month leases. The leases expire at various times through February 28, 2019. The following schedule summarized the future minimum lease payments on the term operating leases:
| Years Ending October 31, | Amount | |||
| 2019 | $ | 35,373 | ||
| Totals | $ | 35,373 | ||
Rent expense for the years ended October 31, 2018 and 2017, was $93,773 and $93,797, respectively.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2018 | Feb 1, 2019 | Showing above |
| 2017 | Jan 30, 2018 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.