Note 11 - Long-term debt:

We have a revolving promissory note with Valhi that, as amended, allows us to borrow up to $40 million.  Our borrowings from Valhi under this revolving note are unsecured bear interest at prime rate plus 2.75% with all principal due on demand, but in any event no earlier than March 31, 2017 and no later than December 31, 2017.  The amount of the outstanding borrowings at any time is solely at the discretion of Valhi.  We had no outstanding borrowings under this revolving promissory note at December 31, 2014 and 2015.  See Note 15.