Duos Technologies Group, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Note 14 - Note Payable - Line of Credit

Note 14 - Note Payable - Line of Credit	12 Months Ended
Dec. 31, 2011
Notes to Financial Statements
Note 14 - Note Payable - Line of Credit	NOTE 14 – NOTE PAYABLE - LINE OF CREDIT The Company has a line of credit with Wachovia Bank N.A. The line of credit provides for borrowings up to $40,000. The balances as of December 31, 2011 and 2010 were $35,146 and $36,141, respectively. The interest rate is the Prime Rate plus 3%. The Chief Executive Officer of the Company is a personal guarantor on the line of credit.

Note 14 - Note Payable - Line of Credit

12 Months Ended

Dec. 31, 2011

NOTE 14 – NOTE PAYABLE - LINE OF CREDIT

The Company has a line of credit with Wachovia Bank N.A. The line of credit provides for borrowings up to $40,000. The balances as of December 31, 2011 and 2010 were $35,146 and $36,141, respectively. The interest rate is the Prime Rate plus 3%. The Chief Executive Officer of the Company is a personal guarantor on the line of credit.