Note 5 - Revolving Line of Credit |
9 Months Ended | ||
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Sep. 30, 2020 | |||
| Notes to Financial Statements | |||
| Debt Disclosure [Text Block] |
The Company has a revolving line of credit with a bank providing for demand or short-term borrowings of up to
$1,000,000. The line expires on July 31, 2021. As of September 30, 2020,
no amounts were outstanding under this line of credit. The Company did not borrow against this line of credit in the last twelve months. |
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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