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OCR: Notes Consolidated Financial Statements Years endex Marct 1995 1994 and 1993 (VI) Line Credit The Company has $3,000 000 line of credit with bank at the bank's prime rate which expires on July 15 1995 Any borrowings are secured by substantially all of the Company assets As of March 31 1995 nothing had been drawn down against this line The line of credit contains cov renants which require the Company 00 maintain certain financial ratios as well as profitability and minimum tangible net worth The Company was in compliance these covenants of March 31, 1995 In conjunction with previous line of credit different bank the Company issued warrant to purchase 8,750 shares of Series L Preferred Stock with an exercise price of $11 47 per share which was converted to a right to purchase common stock Th ...