Quarterly report pursuant to Section 13 or 15(d)

Bank Debt (Tables)

v3.20.1
Bank Debt (Tables)
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Summary of revolving credit line
The following table summarizes our bank debt as of:

March 31, 2020 December 31, 2019
Line of credit - 6.75 percent at March 31, 2020 (prime plus 2 percent)
$ 1,503,147    $ —   
Financed receivables - 5.75 percent at December 31, 2019 (prime plus 1 percent) on invoiced receivables; 6.75 percent December 31, 2019 (prime plus 2 percent) on uninvoiced receivables
$ —    $ 3,381,364   
Total $ 1,503,147    $ 3,381,364