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Unsecured Lines of Credit
12 Months Ended
Jun. 30, 2013
Notes to Financial Statements  
Unsecured Lines of Credit

NOTE M – UNSECURED LINES OF CREDIT

 

The Company has drawn cash advances on two unsecured lines of credit that are in the name of the Company and Louis S. Friedman. The terms of these unsecured lines of credit call for monthly payments of principal and interest, with interest rates ranging from 7% to 18%. The aggregate amount owed on the two unsecured lines of credit was $12,535 at June 30, 2013 and $38,980 at June 30, 2012.