REVOLVING LINE OF CREDIT	9 Months Ended
Mar. 31, 2012
REVOLVING LINE OF CREDIT	NOTE 3 – REVOLVING LINE OF CREDIT On August 17, 2010, the Company signed a line of credit agreement. Under the agreement, the Company has a revolving line of credit for up to $10 million with interest payable at the financial institution’s prime rate plus 0.5%. Interest is payable on a monthly basis. The line is secured by substantially all of the Company’s assets. The loan has a tangible net worth and fixed charge coverage financial covenant. The term of the agreement is currently set to expire on November 5, 2012. The balance of the revolving line of credit at March 31, 2012 and June 30, 2011 was $4,349,586 and $4,817,951 respectively.

REVOLVING LINE OF CREDIT

9 Months Ended

Mar. 31, 2012

NOTE 3 – REVOLVING LINE OF CREDIT

On August 17, 2010, the Company signed a line of credit agreement. Under the agreement, the Company has a revolving line of credit for up to $10 million with interest payable at the financial institution’s prime rate plus 0.5%. Interest is payable on a monthly basis. The line is secured by substantially all of the Company’s assets. The loan has a tangible net worth and fixed charge coverage financial covenant. The term of the agreement is currently set to expire on November 5, 2012.

The balance of the revolving line of credit at March 31, 2012 and June 30, 2011 was $4,349,586 and $4,817,951 respectively.

SAND HILLS, INC 10-Q