Line of Credit |
3 Months Ended |
|---|---|
Sep. 30, 2018 | |
| Line of Credit Facility [Abstract] | |
| Line of Credit | Note 3 - Line of Credit:
The Company has a $750,000 line of credit agreement with a bank. The line of credit bears interest at prime plus 1% (6.25% as of September 30, 2018 and 5.5% as of June 30, 2018) and expires in December 2018. The line of credit is collateralized by all assets of the business, plus certain property owned by a family member of a stockholder and the personal guarantee of a stockholder, along with a key man life insurance policy. The outstanding balance was $547,603 at September 30, 2018 and June 30, 2018. |