Note 5 - Insurance Premium Financing |
9 Months Ended |
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Jun. 30, 2023 | |
Insurance Premium Financing [Member] | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] |
5. INSURANCE PREMIUM FINANCING
In July 2022, the Company entered into a finance agreement with First Insurance Funding in order to fund a portion of its insurance policies. The amount financed was approximately $354,000 and incurred interest at a rate of 2.99%. The Company made monthly payments of approximately $35,000 through April 2023. The outstanding balance as of June 30, 2023 and September 30, 2022 was approximately $0 and $248,000, respectively. As of June 30, 2023, the Company had not entered into a new finance agreement with First Insurance Funding, or any other similar provider.
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