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BORROWINGS
9 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

NOTE 8. BORROWINGS


The Company has access to a $1 million credit facility for working capital purposes. The credit agreement requires the Company to maintain certain covenants; the Company has been in compliance with these covenants during the current fiscal year. The credit agreement will expire on May 31, 2020, and the Company intends to renew annually. The credit facility is collateralized by $1 million at March 31, 2020, shown as restricted cash on the balance sheet, held in deposit in a money market account at the financial institution that provided the credit facility. As of March 31, 2020, the credit facility remains unutilized by the Company.


See Note 15, Subsequent Events, for a borrowing that was entered into subsequent to March 31, 2020.