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Note O - Line of Credit and Commercial Letters of Credit
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Short-Term Debt [Text Block]

O.   LINE OF CREDIT AND COMMERCIAL LETTERS OF CREDIT

 

The Company maintained an unsecured line of credit for short term operating cash needs of $5,000,000 as of December 31, 2023 and 2022. There were no amounts outstanding under this line of credit as of  December 31, 2023 and 2022, which expires September 30, 2024.  The interest rate on the line of credit is reset monthly to the 30-day Secured Overnight Financing Rate (SOFR) plus one half of one percent.  In addition, the Company did not issue commercial letters of credit as of  December 31, 2023 and 2022.