Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.20.4
Subsequent Events
6 Months Ended
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.