Subsequent Events |
6 Months Ended |
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Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events |
NOTE 9 - SUBSEQUENT EVENTS
Credit facility
During January 2021 two holders of the Company’s outstanding convertible debt issued in connection with the Third Amended and Restated Credit Facility Agreement exercised their rights to convert approximately $1,588,000 in principal and accrued interest outstanding into 396,970 shares of common stock at $4.00 per share (the “Conversion Shares”). After giving effect to the issuance of the Conversion Shares, as of February 7, 2021, there was approximately $884,000 outstanding under the LOC and approximately $11,116,000 available for future draws. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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