Annual report pursuant to Section 13 and 15(d)

Line of Credit - Bank

v3.21.1
Line of Credit - Bank
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Line of Credit - Bank

10. Line of Credit - Bank

 

The Company maintains a $1,000,000 secured revolving line of credit from Metropolitan Commercial Bank in New York, of which $500,000 was drawn as of December 31, 2020, which bears a fixed rate of interest of 3.00% on the outstanding balance with an interest only monthly minimum payment, and no maturity date as long as the security deposit of $1,000,000 remains in place, see Note 4.