Sonnet BioTherapeutics, Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

CAPITAL LEASES PAYABLE (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Capital leases payable at March 31, 2013 and December 31, 2012 is associated with the South African Operations and consists of the following.

	March 31,		December 31,
	2013		2012

Capital lease payable, due in 49 monthly installments of $1,081, including interest at 10%, through April 2016	$	36,150	$	38,548

Capital lease payable, due in 32 monthly insallments of $800 including interest at 10%, through November 2014		15,123		17,183

Capital lease payable, due in 14 monthly installments of $1,470, including interest at 10%, through May 2013		2,993		7,389

Capital lease payable, due in 36 monthly installments of $1,022, including interest at 10%, through February 2015		22,817		25,363
Total capital leases payable		77,083		88,483
Current maturities		32,815		27,965
Capital leases payable, less current maturities	$	44,268	$	60,518

Capital leases payable at December 31, 2012 and 2011 is associated with the South African operations and consists of the following:

	December 31,		December 31,
	2012		2011

Capital lease payable, due in 49 monthly installments of $1,081, including interest at 10%, through April 2016	$	38,548	$	46,149

Capital lease payable, due in 32 monthly insallments of $800 including interest at 10%, through November 2014		17,183		24,186

Capital lease payable, due in 14 monthly installments of $1,470, including interest at 10%, through May 2013		7,389		23,211

Capital lease payable, due in 36 monthly installments of $1,022, including interest at 10%, through February 2015		25,363		33,897
Total capital leases payable		88,483		127,443
Current maturities		27,965		41,590
Capital leases payable, less current maturities	$	60,518	$	85,853

Annual requirements for capital lease obligations are as follows:

March 31,	Amount
2013	$	38,918
2014		32,592
2015		13,366
2016		2,228
Total minimum lease payments		87,104
Less: amount representing interest		(10,021	)
Present Value of Net Minimum Lease Payments	$	77,083

Annual requirements for capital lease obligations are as follows:

December 31,	Amount
2013	$	43,502
2014		35,063
2015		16,526
2016		5,569
Total minimum lease payments		100,660
Less: amount representing interest		(12,140	)
Present Value of Net Minimum Lease Payments	$	88,520