Quarterly report pursuant to Section 13 or 15(d)

4. Restricted Cash

v3.21.2
4. Restricted Cash
9 Months Ended
Sep. 30, 2021
Cash and Cash Equivalents [Abstract]  
4. Restricted Cash

4. Restricted Cash

 

Restricted cash consists of the following:

 

    Cash held in a segregated bank account at Intesa Sanpaolo Bank S.p.A. (“Intesa Sanpaolo Bank”) as collateral against the Company’s operating line of credit with Intesa Sanpaolo Bank.

 

    The Company maintains a $1,000,000 deposit at Metropolitan Commercial bank held as security against a $1,000,000 line of credit. The line of credit was repaid during the nine months ended September 30, 2021. See Note 10.