Note F - Line of Credit

12 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE F - LINE OF CREDIT

A line of credit was procured in June 2021, with a bank. The limit for this line of credit is $250,000 as well. Terms of the Line of credit include and an interest rate that fluctuates at prime plus a half of point, interest only. The line of credit matures on June 30, 2022. This line of credit, renews annually until either party decides otherwise. At June 30, 2023, the Company owed $0 on the line of credit.

Interest expense for the years ended June 30, 2023 and 2022 was $0 and $0, respectively.

The line of credit is guaranteed by Justice W. Anderson, President and Chief Executive Officer.