Alpine 4 Holdings Inc (ALPP)

[ZRock]

you talking bout this?

On June 23, 2022, the Company sold the building at 4740 S. Cleveland Ave. Fort Myers, Florida, for $13,200,000. The Company determined that they transferred control of the building to the buyer, has derecognized the asset, and recognized a gain on the sale of $5,597,450 and paid off the outstanding mortgage of $4,642,043. Under ASC 842 the Company simultaneously entered into a sale leaseback transaction where the building was then leased back for a term of 15 years with monthly rent payments that range from $67,708 to $89,305. The Company determined the lease to be an operating lease and recognized a right-of-use asset and operating lease liability of $8,500,000 based on the present value of the minimum lease payments discounted using an incremental borrowing rate of 7%.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1606698/000162828022022573/alpp-20220630.htm