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International Baler Corp – ‘10-Q’ for 4/30/20 – ‘R13’

On:  Friday, 6/12/20, at 3:18pm ET   ·   For:  4/30/20   ·   Accession #:  1607062-20-157   ·   File #:  0-14443

Previous ‘10-Q’:  ‘10-Q’ on 3/13/20 for 1/31/20   ·   Next:  ‘10-Q’ on 9/11/20 for 7/31/20   ·   Latest:  ‘10-Q’ on 3/14/22 for 1/31/22

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 6/12/20  International Baler Corp          10-Q        4/30/20   43:1.4M                                   SimpleSEC/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    183K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     20K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     20K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     14K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     14K 
15: R1          Document and Entity Information                     HTML     47K 
29: R2          Condensed Balance Sheets (Unaudited)                HTML    105K 
42: R3          Condensed Balance Sheets (Unaudited)                HTML     35K 
                (Parenthetical)                                                  
20: R4          Condensed Statements of Income (Unaudited)          HTML     82K 
16: R5          Condensed Statements of Stockholders' Equity        HTML     34K 
                (Unaudited)                                                      
30: R6          Condensed Statements of Cash Flows (Unaudited)      HTML     68K 
43: R7          Nature of Business                                  HTML     18K 
21: R8          Basis of Presentation                               HTML     19K 
14: R9          Summary of Significant Accounting Policies          HTML     28K 
34: R10         Revenue from Contracts with Customers               HTML     26K 
38: R11         Related Party Transactions                          HTML     20K 
25: R12         Inventories                                         HTML     19K 
12: R13         Debt                                                HTML     18K 
35: R14         Income Taxes                                        HTML     20K 
39: R15         Commitments and Contingencies                       HTML     21K 
26: R16         Subsequent Events                                   HTML     19K 
13: R17         Summary of Significant Accounting Policies          HTML     43K 
                (Policies)                                                       
36: R18         Summary of Significant Accounting Policies          HTML     20K 
                (Tables)                                                         
37: R19         Revenue from Contracts with Customers (Tables)      HTML     18K 
23: R20         Inventories (Tables)                                HTML     20K 
17: R21         Summary of Significant Accounting Policies -        HTML     24K 
                Warranty Accrual (Details)                                       
27: R22         Summary of Significant Accounting Policies          HTML     16K 
                (Details Narrative)                                              
40: R23         Revenue from Contracts with Customers -             HTML     26K 
                Disaggregated revenue (Details)                                  
24: R24         Revenue from Contracts with Customers (Details      HTML     16K 
                Narrative)                                                       
18: R25         Related Party Transactions (Details Narrative)      HTML     27K 
28: R26         Inventories - Inventories (Details)                 HTML     23K 
41: R27         Debt (Details Narrative)                            HTML     35K 
22: R28         Income Taxes (Details Narrative)                    HTML     16K 
19: R29         Commitment and Contingencies (Details Narrative)    HTML     19K 
31: XML         IDEA XML File -- Filing Summary                      XML     68K 
33: EXCEL       IDEA Workbook of Financial Reports                  XLSX     32K 
 6: EX-101.INS  XBRL Instance -- ibal-20200430                       XML    264K 
 8: EX-101.CAL  XBRL Calculations -- ibal-20200430_cal               XML     97K 
 9: EX-101.DEF  XBRL Definitions -- ibal-20200430_def                XML     86K 
10: EX-101.LAB  XBRL Labels -- ibal-20200430_lab                     XML    327K 
11: EX-101.PRE  XBRL Presentations -- ibal-20200430_pre              XML    242K 
 7: EX-101.SCH  XBRL Schema -- ibal-20200430                         XSD     60K 
32: ZIP         XBRL Zipped Folder -- 0001607062-20-000157-xbrl      Zip     38K 


‘R13’   —   Debt


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.20.1
Debt
6 Months Ended
Debt Disclosure [Abstract]  
Debt

7. Debt:

 

The Company had a $1,650,000 line of credit agreement with First Merchants Bank of Muncie, Indiana which was renewed on May 15, 2020 with a $1,000,000 line of credit limit. The line of credit allows the Company to borrow at an interest rate equal to the Wall Street Journal prime rate minus 0.95%, adjusting daily. The line of credit is secured by all assets of the Company and expires on May 15, 2021. The line of credit had no outstanding balance at April 30, 2020 and at October 31, 2019.

 

On April 16, 2020 the Company received a $626,466 loan made pursuant to the terms of the Paycheck Protection Program authorized by the CARES Act. The loan has a two-year term and accrues simple interest at a fixed annual rate of 1.00%. Under the terms of the CARES Act guidelines, a portion of the loan up to 100% may be forgiven by the U.S. Small Business Administration if the amount spent is within the timeframe and under the guidelines that have been set for forgiveness.


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
5/15/21
Filed on:6/12/20
5/15/20
For Period end:4/30/20
4/16/20
10/31/1910-K
 List all Filings 
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Filing Submission 0001607062-20-000157   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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