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General Credit Agreement
9 Months Ended
Sep. 30, 2015
General Credit Agreement [Abstract]  
General Credit Agreement

4.   GENERAL CREDIT AGREEMENT 

 

The Company has a general credit and security agreement with Bremer Bank, which provides a revolving credit line of up to $3,000,000 and expires on May 5, 2016. The line of credit is collateralized by all receivables, inventory, equipment, and general intangibles of the Company.   The Company had no borrowings under the credit line during the nine months ended September 30, 2015 or the year ended December 31, 2014.  The credit agreement contains covenants requiring the Company to maintain certain financial ratios.  The Company was in compliance with these requirements at all times throughout the nine months ended September 30, 2015.