SALES LEASEBACK
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9 Months Ended |
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Dec. 31, 2014
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SALES LEASEBACK [Text Block] |
NOTE 11 - SALES LEASEBACK On April 2, 2014 the Company entered into a sale-leaseback transaction with Water Engineering Solutions LLC, an entity that is controlled and owned by an officer, director and shareholder, for specialized equipment with an original cost of $208,773 acquired in August 2013. Under the terms of the sale leaseback agreement, the Company received proceeds of $188,000 in April 2014 and reduced installation cost in the period July 1, 2014 through December 31, 2014 of $20,773. |
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- Definition
The entire disclosure for sale leaseback transactions. Includes the elements of a transaction involving the sale of property to another party and the lease of the property back to the seller. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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