XML 15 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 5 - Line of Credit
6 Months Ended
Sep. 30, 2013
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

5.            Line of Credit


On March 30, 2012, the Company entered into a Line of Credit Authorization agreement (the “Line of Credit”) with Mr. Terry Myhre (“Mr. Myhre”), the Company’s Chairman and majority shareholder. The Line of Credit is unsecured, and allows the Company to borrow from Mr. Myhre up to $3,000,000 of aggregate principal upon the request of the Company. The Line of Credit has a fixed annual interest rate of 4.0%. Effective June 13, 2013, the due date on the Line of Credit was extended from March 31, 2014 to April 1, 2015. There was no balance outstanding on the Line of Credit at September 30, 2013 or 2012. Interest expense related to borrowings under the Line of Credit was $1,752 for the six months ended September 30, 2013. There was no interest expense for the three months ended September 30, 2013 or the three and six months ended September 30, 2012.