Quarterly report pursuant to Section 13 or 15(d)

10. Line of Credit - Bank

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10. Line of Credit - Bank
9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
10. 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 $0 was drawn as of September 30, 2021, 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.