Line of Credit-Bank |
12 Months Ended |
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Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Line of Credit-Bank |
8. 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 6. At December 31, 2018, the Line of Credit had an outstanding balance of $750,000. |
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- References No definition available.
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- Definition The entire disclosure for short-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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