MARGIN LOANS |
12 Months Ended |
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Jun. 30, 2022 | |
MARGIN LOANS [Abstract] | |
MARGIN LOANS |
NOTE 8 – MARGIN LOANS
We have a brokerage account through which it buys and sells publicly traded securities. The provisions of the account allow us to borrow on
certain securities held in the account and to purchase additional securities based on the account equity (including cash). Amounts borrowed are collateralized by the securities held in the account and bear interest at a negotiated rate payable
monthly. Securities pledged to secure margin balances cannot be specifically identified as a portion of all securities held in a brokerage account are used as collateral. As of June 30, 2022 and 2021, we had no margin credit available for cash withdrawal or the ability to purchase in additional securities. Accordingly, as of June 30, 2022 and 2021,
there was no amount outstanding under this short-term credit line.
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