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5. LINE OF CREDIT
9 Months Ended
Nov. 30, 2012
Notes to Financial Statements  
LINE OF CREDIT

NOTE 5:    LINE OF CREDIT

 

As of November 30, 2012, the Company had a line of credit agreement totaling $500,000.  The line of credit bears interest at the lending institution’s index rate (3.25% as of November 30, 2012) plus 0.75% and is due June 30, 2013.  As of November 30, 2012, the Company had not borrowed against the line of credit.  The line of credit agreement does not include any limitations on borrowings or any restrictive debt covenants.