Thursday, October 10, 2013 11:10:28 AM
"A credit facility has been obtained in the amount of $2,000,000. The funding can be used to fund costs of various products the company sells. The interest rate is at a floating rate equal to the Index Rate plus 3.0% per annum with the rate being no less than 5.5%. The Company drew $75,000 of this credit facility in the quarier ended March 31, 2013 and is accruing an interest rate of 6.5% on the loan. This facility has been used for the purchase of celiain products it sells to the public".
So we have got $1,925,000 left to draw on as of end of June
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