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<br /> <br /> <br /> <br /> <br /> <br />NOTE E – LINES OF CREDIT <br /> <br />The Company has a line of credit in the amount of $12,000,000 with a financial institution. The line bears <br />interest based at the bank’s prime rate which was 8.50% on December 31, 2023. The line is secured by <br />accounts receivable and is guaranteed by the shareholders. The loan agreement also contains restrictions <br />and covenants. The outstanding balance was $0 on December 31, 2023. The line ma tures July 31, 2024. <br /> <br />The Company has a line of credit in the amount of $500,000 with a financial institution. The line bears <br />interest based at the bank’s prime rate which was 8.50% on December 31, 2023. The line is unsecured but <br />is guaranteed by the shareholders. The loan agreement also contains restrictions and covenants. The <br />outstanding balance was $0 on December 31, 2023. The line matures September 13, 2 024. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />14 <br />