Line of Credit

12 Months Ended

Jun. 30, 2023

Line of Credit [Abstract]

Line of Credit

Note 16. Line of Credit

At June 30, 2023, the Company has an uncommitted and unused Line of Credit with a financial institution. The agreement provides that the Company may borrow up to $3,000,000. The line provides for interest payments equal to the BSBY Daily Floating Rate plus 2 percentage points. Any borrowing under the line of credit will be collateralized by accounts receivable. All outstanding balances are payable no later than the expiration date of the agreement, unless other terms are agreed to by the lender. The existing line of credit expires February 28, 2024. The Company did not borrow any funds during the last two fiscal years.