Duos Technologies Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

NOTE 4 - LINE OF CREDIT

NOTE 4 - LINE OF CREDIT	6 Months Ended
Jun. 30, 2016
NOTE 4 - LINE OF CREDIT [Abstract]
NOTE 4 - LINE OF CREDIT	NOTE 4 LINE OF CREDIT The Company assumed a line of credit with Wells Fargo Bank upon the closing of the merger on April 1, 2015. The line of credit provided for borrowings up to $40,000, but is now closed to future borrowing. The outstanding balance under the facility as of June 30, 2016 and December 31, 2015 was $40,856 and $40,216, respectively, including accrued interest. This line of credit has no maturity date. The annual interest rate is 10%. The former CEO of the Company personally guaranteed the repayment of the outstanding amount.

NOTE 4 - LINE OF CREDIT

6 Months Ended

Jun. 30, 2016

NOTE 4 LINE OF CREDIT

The Company assumed a line of credit with Wells Fargo Bank upon the closing of the merger on April 1, 2015. The line of credit provided for borrowings up to $40,000, but is now closed to future borrowing. The outstanding balance under the facility as of June 30, 2016 and December 31, 2015 was $40,856 and $40,216, respectively, including accrued interest. This line of credit has no maturity date. The annual interest rate is 10%. The former CEO of the Company personally guaranteed the repayment of the outstanding amount.