Quarterly report pursuant to Section 13 or 15(d)

LINE OF CREDIT

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LINE OF CREDIT
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
LINE OF CREDIT

NOTE 5 – LINE OF CREDIT

 

On March 21, 2017, the Company entered into a Credit Agreement and related documents with Citibank, N.A. for a revolving credit facility for an aggregate amount of up to $1,000,000. The credit facility was secured by a Certificate of Deposit (restricted cash) account opened by the Company with Citibank in the amount of $1,000,000 (see Note 2).

 

 On March 20, 2019, the Company terminated the credit facility and transferred the balance of the Certificate of Deposit that secured the credit facility to its liquid cash account. As of March 20, 2019, the Company had not borrowed any funds under the credit facility.