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SFM Services,Inc.and Subsidiaries,SFl2 Security Services,Inc., <br /> and Gaming Facilities Services,LLC <br /> Notes to the Consolidated Combined Financial Statements <br /> For the year ended December 31,2016 <br /> E Lease Commitments <br /> Capital Leases <br /> The Companies leases vehicles that were contracted under capital leases in 2012 through 2016, <br /> which will expire between 2017 and 2021. The assets and liabilities are recorded at the lower of <br /> present value of minimum lease payments or fair value of the assets. The assets are depreciated <br /> over their estimated useful lives. Depreciation of the assets under capital lease,are included in <br /> depreciation and amortization expense. <br /> Minimum future lease payments under capital lease as of December 31,2016 are as follows: <br /> 2017 $ 113,588 <br /> 2018 -102,191 i I <br /> 2019 93,021 <br /> 2020 53,062 <br /> '2021 7,654 <br /> Thereafter _ <br /> Total Minimum Lease Payments 369,516 <br /> Less:amount representing interest 20,916 <br /> Present Value of Minimum Lease <br /> Payments $ 348,600 <br /> 1111 Interest rate on capitalized leases are imputed based on the lower of the Company's borrowing <br /> rate at the inception of each lease or the lessor's implicit rate of return. <br /> F. Concentration of Credit Risk <br /> Financial Instruments <br /> The Companies maintain cash balances in various financial institutions,all of which are insured I <br /> by the Federal Deposit Insurance Corporation up to$250,000 per account. As of December 31, <br /> 2016 there was no uninsured cash balance- <br /> Maior Customer <br /> Revenues for the year ended December 31, 2016, include services rendered to two major <br /> customer(s)that individually accounted for approximately 17.2%and 10.0%of total revenue for <br /> the year. As of December 31,2016,the accounts receivable to these customers were$564,020 <br /> and$202,598,respectively. <br /> 10 <br /> • <br /> . <br /> S- :: S <br /> /I IFM SENVKES,OtC. <br />