NextPlat Corp Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LINE OF CREDIT (Details Narrative)

LINE OF CREDIT (Details Narrative) - USD ($)		9 Months Ended
LINE OF CREDIT (Details Narrative) - USD ($)	Oct. 09, 2019	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Interest Expense, Other		$ 0	$ 725
Line of Credit, Current		$ 0		$ 0
Orbsat Satcom Corp [Member] \| Short Term Loan Agreement [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 29,000
Expiration period	1 year
Interest rate	9.72%
Late paayment interest rate	11.72%

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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