Line of Credit |
6 Months Ended |
|---|---|
Sep. 30, 2022 | |
| Debt Disclosure [Abstract] | |
| Debt Disclosure [Text Block] | Note 7 – Line of Credit
The Company has a line of credit with Bank of America with open availability up to $690,000. The borrowing base calculation is tied to accounts receivable and is collateralized by substantially all of the assets of the Company. Interest on any outstanding balance is payable monthly at an annual interest rate equal to the LIBOR (London Interbank Offered Rates) daily float plus 3.75 percentage points. On July 29, 2022, Bank of America extended the maturity date of the line of credit from July 30, 2022 to July 30, 2023.
As of September 30, 2022 and March 31, 2022 the line of credit draw remained at zero balance. |