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EXCEL - IDEA: XBRL DOCUMENT - ESP Resources, Inc.Financial_Report.xls
10-Q - 10-Q PERIOD ENDED SEPTEMBER 30, 2012 - ESP Resources, Inc.espi_10q.htm
XML - IDEA: XBRL DOCUMENT - ESP Resources, Inc.R7.htm
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EX-32.2 - CERTIFICATION - ESP Resources, Inc.espi_ex322.htm
EX-31.1 - CERTIFICATION - ESP Resources, Inc.espi_ex311.htm
EX-31.2 - CERTIFICATION - ESP Resources, Inc.espi_ex312.htm
EX-32.1 - CERTIFICATION - ESP Resources, Inc.espi_ex321.htm
XML - IDEA: XBRL DOCUMENT - ESP Resources, Inc.R5.htm
v2.4.0.6
7. Sale leaseback of equipment
9 Months Ended
Sep. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
7. Sale leaseback of equipment

On June 1, 2012 the Company completed a sale leaseback transaction of certain equipment for $304,879 in accordance Accounting Standard Codification (ASC) 840 – 40 “Sales-Leaseback Transactions”, the gain was deferred. The lease was accounted for as a capitalized lease, a financing method, with monthly payments of $22,200 through November, 2014. The proceeds from the sale where used to repay the debt on the equipment, see note 4 June 19, 2012 above. The Company will continue to reflect the book value of the equipment and related accumulated depreciation remain on the balance sheet and no sale was recognized. The sales price of the equipment is recorded as a capitalized lease obligation with a portion of each lease payment includes interest expense.