7. Note Payable to Bank

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Note Payable to Bank

During 2012, the Company negotiated a new credit facility increasing the Company’s lines of credit by $202,000.  As part of this agreement, the Company has pledged two $101,000 certificates of deposit as collateral.  The increased loan facility allows us access to borrowings at an interest rate of 5.0% for the portion of the credit line used.  At September 30, 2015, we had drawn $92,502, which was reported as notes payable to bank. These notes are personally guaranteed by John C. Lawrence the Company’s President and Chairman of the Board of Directors.

At September 30, 2015 and December 31, 2014, the Company had the following note payable to the bank:

	September 30,		December 31,
	2015		2014
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48615	$	92,502	$	0
Total note payable to bank	$	92,502	$	0