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LINES OF CREDIT	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 10 - LINES OF CREDIT	The line of credit with National Bank of Greece is being renewed annually with a current interest rate of 6.00%. The maximum borrowing allowed was $1,347,360 at March 31, 2019. The outstanding balance was $1,032,557 at March 31, 2019. The line of credit with Alpha Bank of Greece is renewed annually with a current interest rate of 6.00%. The maximum borrowing allowed was $673,680 at March 31, 2019. The outstanding balance was $660,568 at March 31, 2019. The line of credit with Eurobank of Greece is being renewed annually with a current interest rate of 8.55%. The maximum borrowing allowed was $561,400 at March 31, 2019. The outstanding balance was $434,508 at March 31, 2019. Interest expense for the three months ended March 31, 2019 was $45,174. Under the above agreements, the Company is required to maintain certain financial ratios and covenants. These lines of credit were assumed in the Company’s acquisition of Cosmofarm. During the three months ended March 31, 2019, the Company was in compliance with these ratios and covenants.

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- References

No definition available.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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