The Company’s revolving line of credit from U.S. Bank, dated April 9, 2009, as amended July 15, 2010, May 25, 2011, August 22, 2012, April 29, 2013, May 22, 2014, June 25, 2014, May 15, 2015 and August 15, 2016, matured on June 15, 2017. However, U.S. Bank agreed to extend the maturity date of the line of credit for an additional 60 days to August 15, 2017. As of August 21, 2017, a condition of default exists under the line of credit.  Although no assurances can be given, management is currently negotiating with U.S. Bank to extend the line of credit through December 15, 2017, and avoid an event of default.  The line of credit is secured by substantially all the assets of the Company.

In accordance with the Subsequent Events Topic of the FASB ASC 855, we have evaluated subsequent events through the filing date and noted that no additional subsequent events exist that are reasonably likely to impact the financial statements.