ADM TRONICS UNLIMITED, INC. - 10-K filing on 2022-07-08

Note 7 - Line of Credit	12 Months Ended
Mar. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 7 – LINE OF CREDIT On June 15, 2018, the Company obtained an unsecured revolving line of credit, with a limit per annum of $400,000. The line expires May 15, 2023, renewing automatically every year. The Company is required to make monthly interest payments, at a rate of 5.37% and 3.87% as of March 31, 2022 and 2021, respectively. Any unpaid principal will be due upon maturity. As of March 31, 2022 and 2021, the outstanding balance was $334,760 and $226,413, respectively.

Note 7 - Line of Credit

12 Months Ended

Mar. 31, 2022

NOTE 7 – LINE OF CREDIT

On June 15, 2018, the Company obtained an unsecured revolving line of credit, with a limit per annum of $400,000. The line expires May 15, 2023, renewing automatically every year. The Company is required to make monthly interest payments, at a rate of 5.37% and 3.87% as of March 31, 2022 and 2021, respectively. Any unpaid principal will be due upon maturity. As of March 31, 2022 and 2021, the outstanding balance was $334,760 and $226,413, respectively.