As previously disclosed, on March 21, 2016, Tel-Instrument Electronics Corp. entered into a line of credit agreement with Bank of America, providing availability up to $690,000 and monthly payments to be interest only. As previously disclosed, on March 31, 2021, Bank of America further extended the maturity date of the line of credit from March 31, 2021, to June 30, 2021, to allow time for a full underwriting for the annual renewal period. As further extension is needed to allow additional time for underwriting, on June 30, 2021, Bank of America further extended the maturity date of the Line of Credit from June 30, 2021, to July 30, 2021.