9. Lines of Credit

12 Months Ended

Jun. 30, 2022

9. Lines of Credit

Lines of Credit

9. Line of Credit

The Company has a Demand Line of Credit through December 2022 with First National Bank of Pennsylvania which provides for borrowings of up to $300,000 for regular working capital needs, bearing interest at prime, currently 5.50%. The agreement does not contain any financial covenants and borrowings are also secured by a pledge of the Company’s assets including inventory, accounts receivable, chattel paper, equipment and general intangibles of the Company. As of June 30, 2022 and 2021, there were no borrowings outstanding under the line.