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On November 1, 2024, Quantum Technology, a geothermal energy supplier, borrowed $16 million cash to...

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Accounting

On November 1, 2024, Quantum Technology, a geothermal energy supplier, borrowed $16 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement. Quantum issued a nine-month, 12% promissory note. Interest was payable at maturity. Quantum's fiscal period is the calendar year

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