Term Loan	3 Months Ended
Sep. 30, 2019
Term Loan
Term Loan	8. Term Loan In fiscal year 2019, we entered into an 18-month, $1,600,000 term loan with a commercial bank to finance part of a land purchase for the purpose of developing and reselling the land. The term loan has an interest rate of 2.75% plus the one-month London Interbank Offered Rate (“LIBOR”), 4.78% at September 30, 2019, with interest-only payments due monthly. All principal and any unpaid interest are due in full upon maturity in November 2020. As of September 30, 2019, we have capitalized $25,000 of interest from this loan as part of the land cost.

Term Loan

3 Months Ended

Sep. 30, 2019

8. Term Loan

In fiscal year 2019, we entered into an 18-month, $1,600,000 term loan with a commercial bank to finance part of a land purchase for the purpose of developing and reselling the land. The term loan has an interest rate of 2.75% plus the one-month London Interbank Offered Rate (“LIBOR”), 4.78% at September 30, 2019, with interest-only payments due monthly. All principal and any unpaid interest are due in full upon maturity in November 2020. As of September 30, 2019, we have capitalized $25,000 of interest from this loan as part of the land cost.