XML 20 R11.htm IDEA: XBRL DOCUMENT v3.23.2
Line of Credit
6 Months Ended
Jun. 30, 2023
Line Of Credit  
Line of Credit

Note 5. Line of Credit

 

In November 2018, our Company negotiated a $150,000 revolving line of credit with a bank to provide a source of working capital, if required. The line of credit is secured by all the assets of our Company and bears interest at the bank’s prime rate for a period of one year and its prime rate plus 1.5% thereafter. The line of credit is subject to an annual review and quiet period. There were no borrowings under the line of credit since its inception. The line of credit was closed as of June 30, 2023.