Annual report pursuant to Section 13 and 15(d)

Line of Credit

v3.21.2
Line of Credit
12 Months Ended
Jun. 30, 2021
Line Of Credit [Abstract]  
Line of Credit
13. Line of Credit   On March 19, 2020, the Company secured a $200,000 line of credit with Celtic Bank Corporation. This LOC has a “Flex Credit” component of calculating interest, which means the interest rate on any draws taken against the LOC is set at the time of said draw. As of the date of this filing, the Company has made one draw against the credit line for a gross amount of $5,000 (including proceeds and draw fees). This balance was paid in full prior to June 30, 2021

    June 30,
2021
    June 30,
2020
 
Line of Credit   $                $ 3,897  
Total borrowings             3,897  
Less: current portion             (3,897 )
Long term debt   $ -     $ -  

      Interest expense for the years ended June 30, 2021 and 2020, totaled $1,012 and $463, respectively.