Strategic Asset Leasing Inc (LEAS)

[ofspring]

Property and Equipment and Depreciation Policy
Property and equipment are recorded at cost, less accumulated depreciation. Cost of repairs and
maintenance are expensed as they are incurred. Major repairs that extend the useful life of equipment are
capitalized and depreciated over the remaining estimated useful life. When property and equipment are sold
or otherwise disposed, the related cost and accumulated depreciation are removed from the respective
accounts and the gains or losses realized on the disposition are reflected in operations. The Company uses
the straight - line method in computing depreciation for financial reporting purposes.

See and this proves that their was some kind of equipment that even i didnt know with CLIL..

Depreciation expense 56,654 106,653


Again we paid 6.8 mil for the assets of lithium and we are only going to get 150k???? It doesnt add up.

Common stock issued for acquisition

6,896,671

And heres the gain we got out of it 50k...

Gain (loss) on lithium deposit rights - 50,000
http://www.otcmarkets.com/financialReportViewer?symbol=MMTE&id=123461