Note 4 - Bank Financing Arrangements	9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]
Bank Financing Arrangements	NOTE 4 — Bank Financing Arrangements Sixth Financing Agreement On June 14, 2019, the Company entered into the Sixth Amended and Restated Business Financing Agreement with the Bank. The Bank waived the default which occurred for the month ended April 30, 2019 when the Company’s Asset Coverage Ratio was 1.13 to 1.00, instead of the required 1.25 to 1.00. The Bank also increased the Eligible Receivable threshold for Ingram Micro from 50% to 60% of domestic receivables, and from 35% to 50% of all receivables (including both domestic and foreign receivables). Seventh Financing Agreement On January 8, 2020, the Company entered into the Seventh Amended and Restated Business Financing Agreement with the Bank which extends the maturity date of the Company’s revolving line of credit to January 31, 2022. Eighth Financing Agreement On August 28, 2020, the Company entered into the Eighth Amended and Restated Business Financing Agreement with the Bank. The Bank consented to the issuance of subordinated debt in the amount less than $2,000,000, at the annual interest rate less than 10% and maturing no sooner than 3 years. The Asset Coverage Ratio was 1.63 to 1.0 on September 30, 2020. During the nine months ended September 30, 2020, total repayments of the term loan was $333,333. Total amount borrowed under the domestic and international lines was $5,630,000 and the total repayments was $7,042,449. At September 30, 2020, the available borrowing capacity was approximately $1,643,000. There were no amounts outstanding under the term loan and bank credit facilities at September 30, 2020. Interest expense on the term loan for three and nine months ended September 30, 2020 was $229 and $6,152, respectively. Interest expense on the amounts drawn under the Company’s bank credit lines during the three and nine months ended September 30, 2020 was $1,077 and $20,461. Accrued interest payable related to the amounts outstanding under the bank credit facilities at September 30, 2020 was $373.

Note 4 - Bank Financing Arrangements

9 Months Ended

Sep. 30, 2020

NOTE 4 — Bank Financing Arrangements

Sixth Financing Agreement

On June 14, 2019, the Company entered into the Sixth Amended and Restated Business Financing Agreement with the Bank. The Bank waived the default which occurred for the month ended April 30, 2019 when the Company’s Asset Coverage Ratio was 1.13 to 1.00, instead of the required 1.25 to 1.00. The Bank also increased the Eligible Receivable threshold for Ingram Micro from 50% to 60% of domestic receivables, and from 35% to 50% of all receivables (including both domestic and foreign receivables).

Seventh Financing Agreement

On January 8, 2020, the Company entered into the Seventh Amended and Restated Business Financing Agreement with the Bank which extends the maturity date of the Company’s revolving line of credit to January 31, 2022.

Eighth Financing Agreement

On August 28, 2020, the Company entered into the Eighth Amended and Restated Business Financing Agreement with the Bank. The Bank consented to the issuance of subordinated debt in the amount less than $2,000,000, at the annual interest rate less than 10% and maturing no sooner than 3 years.

The Asset Coverage Ratio was 1.63 to 1.0 on September 30, 2020. During the nine months ended September 30, 2020, total repayments of the term loan was $333,333. Total amount borrowed under the domestic and international lines was $5,630,000 and the total repayments was $7,042,449. At September 30, 2020, the available borrowing capacity was approximately $1,643,000. There were no amounts outstanding under the term loan and bank credit facilities at September 30, 2020.

Interest expense on the term loan for three and nine months ended September 30, 2020 was $229 and $6,152, respectively. Interest expense on the amounts drawn under the Company’s bank credit lines during the three and nine months ended September 30, 2020 was $1,077 and $20,461. Accrued interest payable related to the amounts outstanding under the bank credit facilities at September 30, 2020 was $373.