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Note 5 - Letter of Credit
6 Months Ended
Jun. 30, 2013
Notes  
Note 5 - Letter of Credit

NOTE 5 – LETTER OF CREDIT

 

On April 17, 2013, the Company redeemed the certificate of deposit collateral which supported the irrevocable stand-by letter of credit (see Note 8) with a face value of $500,000 issued to PUCT for the purpose of maintaining regulatory certification.   The certificate of deposit supporting the irrevocable stand-by letter of credit was replaced with credit under the credit facility agreements entered into during November 2011.