Annual report pursuant to Section 13 and 15(d)

Line of Credit-Bank

Line of Credit-Bank
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Line of Credit-Bank

7. Line of Credit – Bank


The Company maintains a $1 million secured revolving line of credit from Metropolitan Commercial Bank in New York, which bears a fixed rate of interest of 3.00% on the outstanding balance with an interest only monthly minimum payment, no maturity or due date and is secured by a $1 million security deposit. See Note 5. At December 31, 2018, the Line of Credit had an outstanding balance of $750,000.