SHORT-TERM NOTE AND LINES OF CREDIT |
6 Months Ended |
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Sep. 30, 2024 | |
| Debt Disclosure [Abstract] | |
| SHORT-TERM NOTE AND LINES OF CREDIT | NOTE 4 – SHORT-TERM NOTE AND LINES OF CREDIT
The Company has a working capital line of credit with Capital One Bank for $50,000. The line of credit bears an interest rate of prime plus 25.9 basis points, which totaled 34.4% as of September 30, 2024. The line of credit is unsecured. The balance of the line of credit was $9,580 at both September 30, 2024 and March 31, 2024.
The Company also has a working capital line of credit with Chase Bank for $25,000. The line of credit bears an interest rate of prime plus 10 basis points, which totaled 18.5% as of September 30, 2024. The line of credit is secured by assets of the Company’s subsidiaries. The balance of the line of credit was $10,237 at September 30, 2024 and March 31, 2024.
During August of 2024, the Company entered into a line of credit with Bucktown Capital, LLC for up to $500,000. The line of credit bears interest at 12%. The balance of the line of credit was $373,139 as of September 30, 2024.
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